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

PubMatic, Inc. (NASDAQ:PUBM) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.13.

A number of analysts recently commented on the company. Evercore ISI upped their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Macquarie reiterated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Finally, Scotiabank began coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective on the stock.

Insider Buying and Selling at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 19,892 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $14.44, for a total transaction of $287,240.48. Following the sale, the chief executive officer now directly owns 4,330 shares of the company’s stock, valued at $62,525.20. This trade represents a 82.12 % 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, CEO Rajeev K. Goel sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.46, for a total value of $361,500.00. Following the completion of the transaction, the chief executive officer now directly owns 24,222 shares of the company’s stock, valued at approximately $350,250.12. This trade represents a 50.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,459 shares of company stock valued at $1,751,886 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic during the second quarter valued at approximately $29,000. Headlands Technologies LLC bought a new stake in PubMatic in the 2nd quarter valued at $38,000. Founders Capital Management lifted its stake in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of PubMatic during the 3rd quarter valued at about $51,000. Finally, FMR LLC grew its position in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Trading Down 2.1 %

NASDAQ:PUBM opened at $15.10 on Tuesday. The company has a market cap of $721.28 million, a PE ratio of 48.71 and a beta of 1.40. The company has a 50 day simple moving average of $15.71 and a two-hundred day simple moving average of $16.82. PubMatic has a 12 month low of $13.18 and a 12 month high of $25.36.

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.