PubMatic, Inc. (NASDAQ:PUBM) Short Interest Update

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,470,000 shares, a growth of 34.9% from the February 28th total of 1,090,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 457,400 shares, the days-to-cover ratio is presently 3.2 days.

PubMatic Stock Performance

NASDAQ:PUBM traded down $0.12 during mid-day trading on Friday, hitting $8.25. The company had a trading volume of 870,419 shares, compared to its average volume of 446,682. PubMatic has a fifty-two week low of $7.92 and a fifty-two week high of $25.36. The firm has a market cap of $400.35 million, a P/E ratio of 26.61 and a beta of 1.48. The business's fifty day moving average is $12.58 and its two-hundred day moving average is $14.31.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates 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%. Equities analysts forecast that PubMatic will post 0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PUBM shares. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a report on Friday, January 3rd. 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 note on Friday, February 28th. JMP Securities reaffirmed a "market outperform" rating and set a $20.00 price target on shares of PubMatic in a research note on Monday, January 27th. Finally, Scotiabank decreased their price target on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PubMatic currently has an average rating of "Moderate Buy" and a consensus target price of $19.89.

Insider Transactions at PubMatic

In related news, CEO Rajeev K. Goel sold 18,391 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $15.44, for a total transaction of $283,957.04. Following the transaction, the chief executive officer now owns 12,505 shares in the company, valued at $193,077.20. This represents a 59.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total transaction of $228,500.00. Following the completion of the sale, the chief executive officer now owns 32,304 shares of the company's stock, valued at $295,258.56. The trade was a 43.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,601 shares of company stock valued at $1,312,081 in the last three months. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in PubMatic during the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC bought a new stake in shares of PubMatic in the fourth quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic during the fourth quarter worth about $57,000. FMR LLC lifted its holdings in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company's stock valued at $60,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock valued at $77,000 after purchasing an additional 2,240 shares during the period. Institutional investors and hedge funds own 64.26% of the company's stock.

About PubMatic

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.