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

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $20.63.

A number of equities analysts recently issued reports on PUBM shares. Royal Bank of Canada dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Scotiabank started coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Macquarie reissued a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Finally, 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.

PubMatic Trading Up 0.8 %

Shares of NASDAQ:PUBM opened at $14.52 on Friday. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36. The stock has a market capitalization of $693.62 million, a price-to-earnings ratio of 46.84 and a beta of 1.41. The stock has a fifty day simple moving average of $15.58 and a two-hundred day simple moving average of $16.29.

Insider Buying and Selling at PubMatic

In related news, CEO Rajeev K. Goel sold 19,892 shares of PubMatic stock in a transaction on Monday, November 4th. The stock was sold at an average price of $14.44, for a total value of $287,240.48. Following the completion of the sale, the chief executive officer now owns 4,330 shares of the company’s stock, valued at $62,525.20. The trade was a 82.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mukul Kumar sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.54, for a total value of $115,780.00. Following the completion of the transaction, the insider now directly owns 44,888 shares in the company, valued at approximately $742,447.52. This represents a 13.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,190 shares of company stock worth $1,956,331. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after buying an additional 265,700 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 7,225 shares during the period. Wellington Management Group LLP increased its stake in shares of PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.