PubMatic (NASDAQ:PUBM) Price Target Raised to $22.00

PubMatic (NASDAQ:PUBM) had its price target upped by Royal Bank Of Canada from $20.00 to $22.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of PubMatic in a research report on Wednesday, November 4th. Rosenblatt Securities boosted their price target on shares of PubMatic from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group restated a “buy” rating on shares of PubMatic in a research note on Tuesday. Jefferies Financial Group upped their price target on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Finally, Craig Hallum assumed coverage on shares of PubMatic in a report on Thursday, September 24th. They set a “buy” rating and a $24.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

PubMatic Stock Performance

Shares of PUBM opened at $19.02 on Tuesday. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $19.48. The business has a 50-day moving average of $17.51 and a 200 day moving average of $12.52. The firm has a market cap of $866.36 million, a P/E ratio of -380.32 and a beta of 1.59.

Insider Activity

In other news, CFO Steven Pantelick sold 23,491 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $445,624.27. Following the transaction, the chief financial officer directly owned 32,526 shares in the company, valued at approximately $617,018.22. This represents a 41.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $17.05, for a total value of $136,400.00. Following the transaction, the insider directly owned 112,945 shares in the company, valued at approximately $1,925,712.25. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 319,399 shares of company stock worth $5,748,679. 27.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP bought a new stake in shares of PubMatic in the 3rd quarter worth approximately $439,000. Boston Partners purchased a new stake in shares of PubMatic in the 3rd quarter valued at $20,230,000. Diversified Trust Co boosted its stake in shares of PubMatic by 64.2% in the 3rd quarter. Diversified Trust Co now owns 28,841 shares of the company’s stock valued at $540,000 after purchasing an additional 11,277 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PubMatic by 86.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 155,596 shares of the company’s stock valued at $2,915,000 after purchasing an additional 71,968 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PubMatic in the 3rd quarter valued at $39,000. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company’s services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.