PubMatic (NASDAQ:PUBM) Given New $15.00 Price Target at Scotiabank

PubMatic (NASDAQ:PUBM) had its price objective decreased by Scotiabank from $17.00 to $15.00 in a report issued on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other research analysts have also commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Evercore ISI upped their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Lake Street Capital lowered their price target on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday. Macquarie reaffirmed a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Finally, Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.89.

PubMatic Stock Down 23.9 %

NASDAQ PUBM opened at $10.63 on Friday. The stock’s 50-day simple moving average is $15.01 and its two-hundred day simple moving average is $15.16. PubMatic has a twelve month low of $10.35 and a twelve month high of $25.36. The company has a market capitalization of $507.76 million, a price-to-earnings ratio of 34.29 and a beta of 1.41.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The company had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, equities analysts expect that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the sale, the general counsel now owns 34,702 shares in the company, valued at approximately $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,111 shares of company stock worth $2,148,558 in the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock valued at $22,531,000 after purchasing an additional 84,317 shares during the last quarter. Geode Capital Management LLC boosted its stake in PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares during the last quarter. Wellington Management Group LLP boosted its stake in PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock valued at $13,191,000 after purchasing an additional 145,641 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of PubMatic by 1.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 683,064 shares of the company’s stock valued at $10,034,000 after buying an additional 6,600 shares during the period. Finally, Nixon Capital LLC lifted its holdings in shares of PubMatic by 1.4% during the 4th quarter. Nixon Capital LLC now owns 578,259 shares of the company’s stock valued at $8,518,000 after buying an additional 7,966 shares during the period. 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.