Analysts Set PubMatic, Inc. (NASDAQ:PUBM) PT at $20.63

PubMatic, Inc. (NASDAQ:PUBM) has earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.63.

PUBM has been the topic of several recent analyst reports. Evercore ISI raised their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lowered their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Scotiabank started coverage on PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Finally, Macquarie reissued a “neutral” rating and set a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $14.97 on Friday. PubMatic has a one year low of $13.18 and a one year high of $25.36. The company has a market cap of $715.12 million, a price-to-earnings ratio of 48.29 and a beta of 1.41. The firm has a fifty day moving average price of $15.45 and a two-hundred day moving average price of $16.06.

Insider Transactions at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 18,391 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $15.44, for a total value of $283,957.04. Following the sale, the chief executive officer now directly owns 12,505 shares of the company’s stock, valued at approximately $193,077.20. This represents a 59.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Andrew Woods sold 3,529 shares of the firm’s 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 sale, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. The trade was a 9.23 % 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PUBM. Leibman Financial Services Inc. grew its holdings in PubMatic by 17.0% in the fourth quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock valued at $833,000 after purchasing an additional 8,231 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after buying an additional 269,217 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PubMatic by 239.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after purchasing an additional 43,971 shares during the period. Franklin Resources Inc. acquired a new stake in shares of PubMatic in the third quarter worth $941,000. Finally, Virtu Financial LLC acquired a new stake in PubMatic in the 3rd quarter valued at $240,000. 64.26% of the stock is currently owned by hedge funds and other 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.