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

PubMatic, Inc. (NASDAQ:PUBM) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.00.

PUBM has been the subject of several analyst reports. Macquarie reiterated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Scotiabank initiated coverage on PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective for the company.

Insider Transactions at PubMatic

In other news, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00. Following the completion of the transaction, the insider now directly owns 52,005 shares in the company, valued at $858,602.55. This trade represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total value of $66,240.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $372,699.36. The trade was a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,111 shares of company stock worth $2,148,558 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 519,275 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after acquiring an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PubMatic by 239.3% in the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after acquiring an additional 43,971 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after acquiring an additional 35,898 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Stock Performance

NASDAQ:PUBM opened at $15.65 on Wednesday. PubMatic has a one year low of $13.18 and a one year high of $25.36. The stock has a market cap of $747.60 million, a PE ratio of 50.48 and a beta of 1.41. The stock has a 50 day moving average price of $15.34 and a 200 day moving average price of $15.32.

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.