PubMatic (NASDAQ:PUBM) Trading 4.8% Higher

PubMatic, Inc. (NASDAQ:PUBM)’s share price rose 4.8% during mid-day trading on Monday . The stock traded as high as $14.35 and last traded at $14.29. Approximately 202,870 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 487,208 shares. The stock had previously closed at $13.63.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group lowered their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Macquarie decreased their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, B. Riley dropped their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

PubMatic Price Performance

The stock has a market capitalization of $763.94 million, a price-to-earnings ratio of 72.57 and a beta of 1.44. The stock’s 50 day simple moving average is $19.62 and its 200-day simple moving average is $20.79.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $67.27 million during the quarter, compared to analyst estimates of $70.07 million. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. PubMatic’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.11) EPS. As a group, equities research analysts anticipate that PubMatic, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at PubMatic

In related news, CFO Steven Pantelick sold 7,846 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total value of $161,941.44. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $464,523.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PubMatic news, Chairman Amar K. Goel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $24.50, for a total transaction of $49,000.00. Following the completion of the sale, the chairman now directly owns 2,640 shares in the company, valued at $64,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 7,846 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total value of $161,941.44. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at $464,523.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,551 shares of company stock worth $2,432,679. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of PubMatic

Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new position in PubMatic in the 1st quarter worth approximately $1,412,000. Inspire Investing LLC acquired a new position in PubMatic during the 1st quarter valued at $1,249,000. Panagora Asset Management Inc. boosted its holdings in PubMatic by 139.3% in the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock valued at $2,450,000 after purchasing an additional 87,435 shares during the period. Russell Investments Group Ltd. grew its position in PubMatic by 1,073.9% in the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of PubMatic during the 1st quarter worth about $572,000. 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.