PubMatic (NASDAQ:PUBM) Trading Up 4.3% – Should You Buy?

PubMatic, Inc. (NASDAQ:PUBM) was up 4.3% during mid-day trading on Tuesday . The company traded as high as $10.35 and last traded at $10.33. Approximately 160,562 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 477,942 shares. The stock had previously closed at $9.90.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Royal Bank of Canada decreased their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Lake Street Capital decreased their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Finally, Scotiabank lowered their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $19.89.

PubMatic Price Performance

The company has a fifty day moving average price of $13.23 and a 200 day moving average price of $14.52. The stock has a market cap of $482.84 million, a P/E ratio of 32.10 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. As a group, sell-side analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, Chairman Amar K. Goel sold 4,087 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the completion of the sale, the chairman now directly owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. This represents a 22.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew Woods sold 3,529 shares of PubMatic stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $52,370.36. Following the transaction, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. This represents a 9.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,811 shares of company stock valued at $1,438,381 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in PubMatic by 222.8% during the 3rd 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 during the period. Avestar Capital LLC bought a new stake in PubMatic in the 4th quarter worth approximately $4,701,000. Nordea Investment Management AB lifted its holdings in shares of PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% during 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in PubMatic by 263.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after purchasing an additional 163,979 shares during the period. 64.26% of the stock is currently owned by hedge funds and other 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.