Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Target Price at $20.63

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

Several equities research analysts have recently issued reports on the stock. Scotiabank began coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective on the stock. Macquarie restated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada cut their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $325,211.70. This trade represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 18,391 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the completion of the transaction, the chief executive officer now directly owns 12,505 shares in the company, valued at $193,077.20. The trade was a 59.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,190 shares of company stock valued at $1,956,331 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently bought and sold shares of the business. Founders Capital Management grew its holdings in shares of 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 purchasing an additional 1,000 shares during the last quarter. FMR LLC lifted its position in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after buying an additional 2,709 shares in the last quarter. New York State Teachers Retirement System acquired a new position in PubMatic during the 3rd quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PubMatic by 37.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after acquiring an additional 3,461 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after acquiring an additional 4,855 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Stock Up 0.8 %

Shares of NASDAQ:PUBM opened at $14.52 on Friday. The business has a 50 day moving average price of $15.56 and a 200 day moving average price of $16.19. The company has a market cap of $693.62 million, a price-to-earnings ratio of 46.84 and a beta of 1.41. PubMatic has a twelve month low of $13.18 and a twelve 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.