PubMatic, Inc. (NASDAQ:PUBM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.63.

A number of research firms have recently weighed in on PUBM. Scotiabank assumed coverage on PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company. Evercore ISI boosted their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Finally, Royal Bank of Canada dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd.

PubMatic Stock Down 1.1 %

Shares of NASDAQ PUBM opened at $14.97 on Friday. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The firm’s 50-day simple moving average is $15.45 and its 200 day simple moving average is $16.06. The company has a market cap of $715.12 million, a price-to-earnings ratio of 48.29 and a beta of 1.41.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 19,892 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $14.44, for a total value of $287,240.48. Following the completion of the sale, the chief executive officer now owns 4,330 shares of the company’s stock, valued at approximately $62,525.20. This represents a 82.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.54, for a total value of $115,780.00. Following the completion of the sale, the insider now owns 44,888 shares in the company, valued at $742,447.52. This represents a 13.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,190 shares of company stock valued at $1,956,331 in the last 90 days. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after buying an additional 519,275 shares in the last quarter. Nordea Investment Management AB grew its stake in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the period. Millennium Management LLC acquired a new position in shares of PubMatic during the 2nd quarter valued at $6,582,000. Victory Capital Management Inc. raised its stake in PubMatic by 99.2% during the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after buying an additional 35,898 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after purchasing an additional 239,406 shares in the last quarter. 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.