PubMatic, Inc. (NASDAQ:PUBM – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.25.
A number of research firms have recently issued reports on PUBM. Weiss Ratings downgraded shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Rosenblatt Securities raised their target price on shares of PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Lake Street Capital restated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th. Finally, Wall Street Zen cut PubMatic from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th.
Get Our Latest Stock Report on PUBM
PubMatic Price Performance
PubMatic (NASDAQ:PUBM – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. On average, research analysts expect that PubMatic will post -0.09 earnings per share for the current year.
Insider Activity at PubMatic
In other news, General Counsel Andrew Woods sold 38,331 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $17.96, for a total value of $688,424.76. Following the completion of the sale, the general counsel owned 39,761 shares of the company’s stock, valued at approximately $714,107.56. This represents a 49.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 19,716 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $17.31, for a total transaction of $341,283.96. Following the completion of the transaction, the chief financial officer directly owned 10,353 shares of the company’s stock, valued at $179,210.43. This represents a 65.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 581,703 shares of company stock worth $9,151,166. Insiders own 27.78% of the company’s stock.
Institutional Investors Weigh In On PubMatic
A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Caitong International Asset Management Co. Ltd lifted its holdings in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,915 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after buying an additional 2,482 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of PubMatic by 20.8% during the 1st quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock worth $144,000 after buying an additional 3,022 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after buying an additional 3,700 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of PubMatic by 246.5% during the 2nd quarter. California State Teachers Retirement System now owns 7,059 shares of the company’s stock worth $93,000 after buying an additional 5,022 shares during the period. 64.26% of the stock is owned by institutional investors.
PubMatic Company Profile
PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.
The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.
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