Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) PT at $21.13

PubMatic, Inc. (NASDAQ:PUBM) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Four 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 brokers that have covered the stock in the last year is $21.13.

Several equities research analysts have recently commented on PUBM shares. Scotiabank started coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target for the company. Evercore ISI lifted 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. Finally, Macquarie reissued a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th.

Insider Transactions at PubMatic

In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $14.46, for a total transaction of $361,500.00. Following the sale, the chief executive officer now owns 24,222 shares of the company’s stock, valued at $350,250.12. This trade represents a 50.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 19,892 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.44, for a total value of $287,240.48. Following the completion of the transaction, the chief executive officer now owns 4,330 shares of the company’s stock, valued at $62,525.20. This represents a 82.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,459 shares of company stock valued at $1,751,886 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position 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 worth $24,142,000 after buying an additional 265,700 shares during the period. Geode Capital Management LLC raised its position in PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after buying an additional 7,225 shares during the last quarter. Wellington Management Group LLP lifted its stake in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after acquiring an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after acquiring an additional 100,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Stock Up 0.4 %

Shares of PUBM stock opened at $15.43 on Tuesday. The firm has a market cap of $737.04 million, a price-to-earnings ratio of 49.77 and a beta of 1.40. PubMatic has a 12 month low of $13.18 and a 12 month high of $25.36. The stock has a 50-day moving average price of $15.71 and a 200 day moving average price of $16.90.

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.