PubMatic (NASDAQ:PUBM) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of PubMatic (NASDAQ:PUBM) in a research report released on Monday,Benzinga reports. They currently have a $20.00 price target on the stock.

Several other analysts have also recently commented on PUBM. Macquarie reiterated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada decreased their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Scotiabank started coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Finally, Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

PubMatic Trading Up 2.7 %

Shares of PUBM opened at $15.57 on Monday. The stock’s 50-day moving average price is $15.46 and its two-hundred day moving average price is $15.93. PubMatic has a 12 month low of $13.18 and a 12 month high of $25.36. The company has a market capitalization of $743.78 million, a PE ratio of 50.23 and a beta of 1.41.

Insider Transactions at PubMatic

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.54, for a total value of $115,780.00. Following the transaction, the insider now owns 44,888 shares in the company, valued at approximately $742,447.52. This represents a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $325,211.70. This represents a 15.09 % 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sei Investments Co. raised its holdings in shares of PubMatic by 190.6% in the 2nd quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,424,000 after acquiring an additional 45,998 shares during the last quarter. Millennium Management LLC bought a new stake in PubMatic during the 2nd quarter worth approximately $6,582,000. Algert Global LLC raised its stake in shares of PubMatic by 19.0% in the second quarter. Algert Global LLC now owns 171,125 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,272 shares during the last quarter. Truist Financial Corp bought a new position in shares of PubMatic in the second quarter valued at approximately $380,000. Finally, Dana Investment Advisors Inc. purchased a new position in shares of PubMatic during the second quarter valued at approximately $839,000. 64.26% of the stock is owned by institutional investors.

About PubMatic

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.