PubMatic (NASDAQ:PUBM) Given New $22.00 Price Target at Evercore ISI

PubMatic (NASDAQ:PUBM) had its price objective lifted by Evercore ISI from $20.00 to $22.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the stock. Macquarie reduced their price objective 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. Royal Bank of Canada cut their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Wolfe Research assumed coverage on PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, B. Riley decreased their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.71.

PubMatic Trading Down 4.8 %

Shares of NASDAQ:PUBM opened at $14.88 on Wednesday. The stock has a 50 day moving average of $14.91 and a 200 day moving average of $18.24. The company has a market cap of $737.75 million, a PE ratio of 48.00 and a beta of 1.39. PubMatic has a 12-month low of $13.18 and a 12-month high of $25.36.

Insider Buying and Selling at PubMatic

In other news, CEO Rajeev K. Goel sold 19,892 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $14.44, for a total transaction of $287,240.48. Following the sale, the chief executive officer now directly owns 4,330 shares in the company, valued at approximately $62,525.20. This represents a 82.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $14.46, for a total value of $361,500.00. Following the completion of the sale, the chief executive officer now directly owns 24,222 shares of the company’s stock, valued at $350,250.12. The trade was a 50.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,391 shares of company stock worth $1,519,390 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of PubMatic

Several institutional investors have recently added to or reduced their stakes in PUBM. Redwood Wealth Management Group LLC bought a new position in shares of PubMatic during the second quarter valued at approximately $29,000. Headlands Technologies LLC bought a new position in PubMatic in the 2nd quarter valued at $38,000. Founders Capital Management increased its stake in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. New York State Teachers Retirement System bought a new stake in shares of PubMatic during the third quarter worth $51,000. Finally, FMR LLC boosted its stake in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.