PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) saw a large 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 presently 3.0 days.
PubMatic Stock Down 0.7 %
PubMatic stock traded down $0.07 during trading hours on Monday, reaching $9.70. 1,017,682 shares of the company's stock were exchanged, compared to its average volume of 456,862. The firm's 50 day simple moving average is $14.41 and its 200 day simple moving average is $14.99. PubMatic has a twelve month low of $9.43 and a twelve month high of $25.36. The firm has a market capitalization of $470.71 million, a PE ratio of 31.29 and a beta of 1.48.
PubMatic (NASDAQ:PUBM - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The firm had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. Analysts anticipate that PubMatic will post 0.22 EPS for the current year.
Insider Activity
In other news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the completion of the transaction, the insider now directly owns 44,888 shares in the company, valued at approximately $741,549.76. This represents a 13.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $60,560.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company's stock, valued at $340,740.84. The trade was a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,811 shares of company stock worth $1,554,021. Insiders own 2.90% of the company's stock.
Institutional Trading of PubMatic
Several large investors have recently made changes to their positions in PUBM. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic in the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of PubMatic in the 4th quarter valued at about $29,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic in the 4th quarter valued at about $57,000. Finally, FMR LLC grew its stake in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company's stock valued at $60,000 after buying an additional 2,709 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PUBM has been the subject of several analyst reports. Lake Street Capital lowered their target price on PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research report on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Evercore ISI raised 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. Finally, Scotiabank lowered their target price on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PubMatic presently has an average rating of "Moderate Buy" and a consensus price target of $19.89.
Read Our Latest Analysis on PubMatic
PubMatic Company Profile
(
Get Free Report)
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.
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