PubMatic, Inc. (NASDAQ:PUBM) Short Interest Down 12.3% in February

PubMatic, Inc. (NASDAQ:PUBM) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 947,500 shares, a decrease of 12.3% from the January 31st total of 1,080,000 shares. Based on an average trading volume of 318,900 shares, the short-interest ratio is currently 3.0 days.

PubMatic Stock Down 6.5 %

PUBM stock traded down $0.70 during trading on Thursday, reaching $10.01. The stock had a trading volume of 270,087 shares, compared to its average volume of 419,797. PubMatic has a one year low of $9.92 and a one year high of $25.36. The company’s 50 day moving average is $14.73 and its two-hundred day moving average is $15.10. The company has a market capitalization of $478.20 million, a price-to-earnings ratio of 32.19 and a beta of 1.48.

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

Insider Activity at PubMatic

In other PubMatic news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $16.52, for a total transaction of $115,640.00. Following the completion of the sale, the insider now directly owns 44,888 shares in the company, valued at approximately $741,549.76. This trade represents a 13.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the completion of the transaction, the chairman now directly owns 14,044 shares in the company, valued at $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,811 shares of company stock worth $1,554,021 over the last ninety days. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of PubMatic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after buying an additional 84,317 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 7,225 shares during the last quarter. Wellington Management Group LLP boosted its stake in PubMatic by 19.4% in the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock valued at $13,191,000 after acquiring an additional 145,641 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position 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 acquiring an additional 6,600 shares during the period. Finally, Nixon Capital LLC raised its holdings in shares of PubMatic by 1.4% in the 4th quarter. Nixon Capital LLC now owns 578,259 shares of the company’s stock worth $8,518,000 after purchasing an additional 7,966 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PUBM has been the topic of a number of research reports. Lake Street Capital lowered their target price on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Evercore ISI raised their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank decreased their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, Royal Bank of Canada lowered their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and an average price target of $19.89.

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.