B. Riley Lowers PubMatic (NASDAQ:PUBM) Price Target to $22.00

PubMatic (NASDAQ:PUBM) had its price objective cut by analysts at B. Riley from $31.00 to $22.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 56.47% from the company’s current price.

A number of other analysts also recently issued reports on PUBM. Jefferies Financial Group dropped their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday. Wolfe Research assumed coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price target on PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.43.

PubMatic Trading Down 28.3 %

Shares of PubMatic stock traded down $5.54 during trading on Friday, hitting $14.06. The stock had a trading volume of 4,047,637 shares, compared to its average volume of 313,477. The firm has a market cap of $702.02 million, a price-to-earnings ratio of 66.96 and a beta of 1.44. PubMatic has a 12 month low of $10.92 and a 12 month high of $25.36. The business’s 50-day moving average is $20.63 and its 200 day moving average is $20.81.

Insider Buying and Selling

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $18.73, for a total value of $468,250.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Amar K. Goel sold 2,000 shares of PubMatic stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $24.50, for a total transaction of $49,000.00. Following the completion of the sale, the chairman now owns 2,640 shares in the company, valued at approximately $64,680. The disclosure for this sale can be found here. Insiders have sold a total of 117,324 shares of company stock valued at $2,394,449 over the last three months. 2.90% of the stock is owned by company insiders.

Institutional Trading of PubMatic

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in shares of PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after purchasing an additional 290,465 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in PubMatic by 17.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after acquiring an additional 228,190 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in PubMatic by 92.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of PubMatic during the first quarter valued at approximately $4,711,000. 64.26% of the stock is owned by institutional investors.

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.