PubMatic (NASDAQ:PUBM - Get Free Report) had its target price lowered by investment analysts at Royal Bank of Canada from $21.00 to $19.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective indicates a potential upside of 23.94% from the stock's previous close.
A number of other research firms have also recently weighed in on PUBM. Macquarie reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Scotiabank assumed coverage on PubMatic in a report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 price target on the stock. Finally, Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.63.
Check Out Our Latest Report on PubMatic
PubMatic Stock Performance
Shares of NASDAQ PUBM traded up $0.50 during midday trading on Friday, hitting $15.33. The company's stock had a trading volume of 271,500 shares, compared to its average volume of 268,150. The firm's fifty day moving average price is $15.68 and its 200-day moving average price is $16.67. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36. The firm has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40.
Insider Transactions at PubMatic
In related news, CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.31, for a total transaction of $407,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mukul Kumar sold 4,480 shares of PubMatic stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20. Following the completion of the transaction, the insider now owns 52,005 shares in the company, valued at approximately $771,754.20. This trade represents a 7.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,799 shares of company stock valued at $1,672,374. Corporate insiders own 2.90% of the company's stock.
Institutional Investors Weigh In On PubMatic
Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company's stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Geode Capital Management LLC boosted its position 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 buying an additional 7,225 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company's stock worth $11,187,000 after buying an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company's stock valued at $10,059,000 after buying an additional 100,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock valued at $6,466,000 after buying an additional 239,406 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.
About PubMatic
(
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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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