PubMatic (NASDAQ:PUBM) Earns “Neutral” Rating from Macquarie

PubMatic (NASDAQ:PUBM)‘s stock had its “neutral” rating reissued by equities researchers at Macquarie in a research note issued to investors on Thursday,Benzinga reports. They currently have a $19.00 price target on the stock. Macquarie’s price objective indicates a potential upside of 19.87% from the stock’s current price.

PUBM has been the subject of several other reports. Royal Bank of Canada reduced their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Evercore ISI upped their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Jefferies Financial Group reduced their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, B. Riley reduced their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.71.

PubMatic Stock Down 2.5 %

PUBM traded down $0.41 during midday trading on Thursday, hitting $15.85. 293,600 shares of the company were exchanged, compared to its average volume of 464,181. The firm has a market capitalization of $785.84 million, a P/E ratio of 51.03 and a beta of 1.39. The firm’s 50 day moving average price is $14.90 and its 200-day moving average price is $18.34. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. PubMatic had a return on equity of 5.98% and a net margin of 5.96%. The business had revenue of $71.79 million for the quarter, compared to the consensus estimate of $66.14 million. On average, sell-side analysts predict that PubMatic will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lisa Gimbel sold 2,397 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.66, for a total value of $32,743.02. Following the transaction, the chief accounting officer now owns 3,956 shares of the company’s stock, valued at $54,038.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.21, for a total transaction of $60,840.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $342,316.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa Gimbel sold 2,397 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.66, for a total transaction of $32,743.02. Following the sale, the chief accounting officer now directly owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,788 shares of company stock worth $1,552,133. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently added to or reduced their stakes in PUBM. Vanguard Group Inc. lifted its position in PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after acquiring an additional 22,713 shares during the last quarter. Renaissance Technologies LLC grew its stake in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after acquiring an additional 211,520 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of PubMatic in the 2nd quarter worth approximately $6,582,000. 64.26% of the stock is currently owned by institutional investors.

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.