PubMatic (NASDAQ:PUBM) Given Neutral Rating at Macquarie

Macquarie reaffirmed their neutral rating on shares of PubMatic (NASDAQ:PUBM) in a research report sent to investors on Thursday morning,Benzinga reports. Macquarie currently has a $19.00 price objective on the stock.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, B. Riley lowered their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.71.

PubMatic Stock Performance

NASDAQ PUBM opened at $14.88 on Thursday. The firm’s 50 day moving average price is $14.91 and its 200-day moving average price is $18.20. PubMatic has a 52-week low of $13.18 and a 52-week high of $25.36. The company has a market cap of $737.75 million, a PE ratio of 48.00 and a beta of 1.39.

Insider Transactions at PubMatic

In other news, General Counsel Andrew Woods sold 2,710 shares of PubMatic stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now directly owns 26,739 shares in the company, valued at approximately $409,106.70. The trade was a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total transaction of $381,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,391 shares of company stock worth $1,519,390. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic during the second quarter worth $29,000. Founders Capital Management raised its holdings in shares of PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of PubMatic during the second quarter worth $38,000. New York State Teachers Retirement System purchased a new position in shares of PubMatic during the third quarter worth $51,000. Finally, FMR LLC raised its holdings in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.