PubMatic, Inc. (NASDAQ:PUBM) Receives $20.63 Consensus Target Price from Analysts

PubMatic, Inc. (NASDAQ:PUBM) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.63.

Several research analysts have weighed in on the stock. Scotiabank assumed coverage on shares of PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Macquarie restated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI upped their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

PubMatic Trading Down 0.7 %

PUBM opened at $14.73 on Friday. The company’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $16.10. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36. The company has a market cap of $703.61 million, a price-to-earnings ratio of 47.52 and a beta of 1.41.

Insider Activity

In related news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. Following the completion of the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $325,211.70. This trade represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Rajeev K. Goel sold 19,892 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $14.44, for a total transaction of $287,240.48. Following the sale, the chief executive officer now owns 4,330 shares of the company’s stock, valued at $62,525.20. This trade represents a 82.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,190 shares of company stock worth $1,956,331 over the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted its position in PubMatic by 9.1% during the second quarter. American Century Companies Inc. now owns 316,514 shares of the company’s stock worth $6,428,000 after purchasing an additional 26,387 shares during the period. Renaissance Technologies LLC boosted its position in PubMatic by 28.8% during the second 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. Sei Investments Co. boosted its position in PubMatic by 190.6% during the second quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock worth $1,424,000 after purchasing an additional 45,998 shares during the period. Magnetar Financial LLC bought a new position in PubMatic during the second quarter worth about $353,000. Finally, Cubist Systematic Strategies LLC boosted its position in PubMatic by 54.4% during the second quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock worth $5,382,000 after purchasing an additional 93,327 shares during the period. Hedge funds and other institutional investors 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.