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

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $21.13.

A number of analysts have commented on the stock. Scotiabank assumed coverage on shares of PubMatic in a research note on Thursday. They issued a “sector perform” rating and a $17.00 price target for the company. Macquarie reiterated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group dropped their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th.

Insider Buying and Selling

In related news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total transaction of $66,240.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 108,459 shares of company stock valued at $1,636,246. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in PubMatic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after buying an additional 22,713 shares during the period. Renaissance Technologies LLC increased its holdings in PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after buying an additional 265,700 shares during the period. Geode Capital Management LLC increased its holdings in PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after buying an additional 7,225 shares during the period. Wellington Management Group LLP increased its holdings in PubMatic by 222.8% in the 3rd 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 during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after buying an additional 100,479 shares during the period. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

Shares of PUBM stock opened at $16.10 on Friday. The stock has a market cap of $769.05 million, a P/E ratio of 51.94 and a beta of 1.40. The company has a fifty day moving average price of $15.32 and a two-hundred day moving average price of $17.59. PubMatic has a one year low of $13.18 and a one year high of $25.36.

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.