PubMatic, Inc. (NASDAQ:PUBM) Given Average Rating of “Moderate Buy” by Brokerages

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.71.

Several equities analysts have weighed in on the company. Royal Bank of Canada dropped their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. B. Riley cut their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI boosted their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Finally, Jefferies Financial Group decreased their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.46, for a total transaction of $361,500.00. Following the completion of the sale, the chief executive officer now owns 24,222 shares in the company, valued at $350,250.12. This represents a 50.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew Woods sold 3,076 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.52, for a total transaction of $44,663.52. Following the transaction, the general counsel now directly owns 32,349 shares in the company, valued at $469,707.48. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,159 shares of company stock worth $1,041,709 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. acquired a new position in PubMatic in the 3rd quarter valued at about $941,000. Virtu Financial LLC purchased a new position in shares of PubMatic in the 3rd quarter valued at approximately $240,000. Geode Capital Management LLC increased its holdings in shares of PubMatic by 0.8% in the third 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 period. Barclays PLC raised its stake in shares of PubMatic by 93.1% during the third quarter. Barclays PLC now owns 129,196 shares of the company’s stock worth $1,921,000 after purchasing an additional 62,284 shares during the last quarter. Finally, Main Management ETF Advisors LLC acquired a new stake in shares of PubMatic during the third quarter worth $565,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Trading Down 0.9 %

PUBM stock opened at $16.68 on Friday. The business’s fifty day moving average price is $15.22 and its 200 day moving average price is $17.64. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The company has a market capitalization of $796.80 million, a PE ratio of 53.81 and a beta of 1.40.

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.