PubMatic, Inc. (NASDAQ:PUBM) Receives Consensus Recommendation of "Moderate Buy" from Analysts

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine analysts that are covering the firm, MarketBeat reports. Four 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 issued a report on the stock in the last year is $21.13.

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

Insider Buying and Selling

In other news, insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.54, for a total value of $115,780.00. Following the sale, the insider now directly owns 44,888 shares in the company, valued at $742,447.52. This trade represents a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares in the company, valued at $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,459 shares of company stock valued at $1,751,886. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of PubMatic by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company's stock valued at $3,171,000 after buying an additional 11,712 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PubMatic by 56.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company's stock valued at $185,000 after purchasing an additional 3,280 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in PubMatic by 7.0% during the second quarter. Panagora Asset Management Inc. now owns 227,948 shares of the company's stock worth $4,630,000 after purchasing an additional 14,907 shares during the period. Principal Financial Group Inc. increased its position in PubMatic by 14.8% during the second quarter. Principal Financial Group Inc. now owns 30,236 shares of the company's stock worth $614,000 after buying an additional 3,894 shares during the last quarter. Finally, Versor Investments LP raised its stake in PubMatic by 8.2% in the second quarter. Versor Investments LP now owns 22,186 shares of the company's stock valued at $451,000 after buying an additional 1,677 shares during the period. 64.26% of the stock is currently owned by institutional investors.

PubMatic Trading Up 0.7 %

PUBM stock traded up $0.11 during trading on Tuesday, hitting $15.37. 98,224 shares of the stock traded hands, compared to its average volume of 454,583. The stock has a market cap of $734.18 million, a price-to-earnings ratio of 49.58 and a beta of 1.40. PubMatic has a one year low of $13.18 and a one year high of $25.36. The company has a 50 day simple moving average of $15.70 and a 200 day simple moving average of $16.96.

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.