PubMatic (NASDAQ:PUBM) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of PubMatic (NASDAQ:PUBM - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $20.00 price objective on the stock.

Several other equities research analysts also recently weighed in on PUBM. Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a "sector perform" rating and a $17.00 target price for the company. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Royal Bank of Canada dropped their target price on PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Finally, Macquarie reaffirmed a "neutral" rating and set a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.00.

PubMatic Stock Up 1.6 %

NASDAQ:PUBM traded up $0.24 during trading hours on Monday, reaching $15.21. 412,129 shares of the company's stock were exchanged, compared to its average volume of 306,927. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36. The firm has a market capitalization of $726.58 million, a price-to-earnings ratio of 49.06 and a beta of 1.41. The company has a 50-day moving average of $15.46 and a 200 day moving average of $15.97.

Insiders Place Their Bets

In related news, insider Mukul Kumar sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.54, for a total value of $115,780.00. Following the completion of the transaction, the insider now directly owns 44,888 shares of the company's stock, valued at $742,447.52. This trade represents a 13.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $14.45, for a total value of $57,800.00. Following the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $325,211.70. The trade was a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 127,190 shares of company stock worth $1,956,331. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company's stock worth $14,295,000 after acquiring an additional 7,225 shares during the last quarter. Wellington Management Group LLP increased its position in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company's stock worth $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company's stock valued at $10,059,000 after purchasing an additional 100,479 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock valued at $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company's stock worth $5,101,000 after purchasing an additional 269,217 shares during the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

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.