PubMatic, Inc. (NASDAQ:PUBM) Receives $21.71 Consensus Target Price from Brokerages

Shares of PubMatic, Inc. (NASDAQ:PUBM) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.71.

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada decreased their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. B. Riley lowered their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group cut their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Macquarie reaffirmed a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th.

Insiders Place Their Bets

In other news, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the sale, the general counsel now owns 26,739 shares in the company, valued at approximately $409,106.70. The trade was a 9.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,869 shares of company stock worth $1,525,262 over the last three months. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in PubMatic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after buying an additional 22,713 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PubMatic by 28.8% during the second 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. Geode Capital Management LLC raised its position in shares of PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after purchasing an additional 7,225 shares during the last quarter. Wellington Management Group LLP raised its position in shares of PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Price Performance

Shares of PUBM stock opened at $15.95 on Friday. The business has a 50-day moving average of $15.17 and a 200 day moving average of $17.69. The stock has a market capitalization of $761.93 million, a PE ratio of 51.45 and a beta of 1.39. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36.

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.