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

PubMatic, Inc. (NASDAQ:PUBM) has earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.71.

PUBM has been the topic of several recent analyst reports. B. Riley reduced 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. Royal Bank of Canada reduced their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Jefferies Financial Group dropped their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Insider Activity at PubMatic

In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total value of $381,250.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,869 shares of company stock valued at $1,525,262 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Founders Capital Management boosted its holdings in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at approximately $29,000. Price T Rowe Associates Inc. MD raised its position in shares of PubMatic by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after acquiring an additional 1,561 shares during the period. Versor Investments LP boosted its stake in PubMatic by 8.2% during the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in PubMatic during the second quarter valued at approximately $38,000. 64.26% of the stock is owned by institutional investors.

PubMatic Price Performance

PubMatic stock opened at $15.83 on Friday. The business has a 50 day simple moving average of $15.12 and a 200 day simple moving average of $17.82. PubMatic has a one year low of $13.18 and a one year high of $25.36. The company has a market capitalization of $756.15 million, a PE ratio of 51.06 and a beta of 1.39.

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.