PubMatic (NASDAQ:PUBM) Stock Rating Reaffirmed by JMP Securities

PubMatic (NASDAQ:PUBM – Get Rating)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They presently have a $21.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 60.06% from the stock’s current price.

A number of other analysts also recently commented on the stock. Oppenheimer dropped their price target on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Jefferies Financial Group dropped their price target on shares of PubMatic from $16.00 to $15.00 in a research report on Thursday, December 15th. Vertical Research downgraded shares of PubMatic to a “neutral” rating in a research report on Tuesday, January 24th. Raymond James dropped their target price on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Finally, Royal Bank of Canada dropped their target price on shares of PubMatic from $24.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and an average price target of $18.14.

PubMatic Trading Down 1.0 %

PUBM stock opened at $13.12 on Thursday. PubMatic has a 52 week low of $12.19 and a 52 week high of $28.30. The company has a market capitalization of $693.13 million, a price-to-earnings ratio of 26.24 and a beta of 0.92. The firm’s 50-day moving average is $14.81 and its two-hundred day moving average is $15.62.

Insider Transactions at PubMatic

In other news, insider Jeffrey K. Hirsch sold 5,000 shares of PubMatic stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. Following the transaction, the insider now directly owns 7,662 shares of the company’s stock, valued at $106,501.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jeffrey K. Hirsch sold 5,000 shares of PubMatic stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $13.90, for a total value of $69,500.00. Following the transaction, the insider now directly owns 7,662 shares of the company’s stock, valued at $106,501.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Amar K. Goel sold 2,345 shares of PubMatic stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $13.00, for a total transaction of $30,485.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,628 shares of company stock valued at $711,572 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of PubMatic

Several large investors have recently added to or reduced their stakes in PUBM. Vanguard Group Inc. lifted its stake in shares of PubMatic by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,319,892 shares of the company’s stock worth $71,840,000 after buying an additional 29,696 shares during the last quarter. BlackRock Inc. grew its holdings in PubMatic by 0.4% during the 3rd quarter. BlackRock Inc. now owns 2,607,362 shares of the company’s stock worth $43,361,000 after acquiring an additional 9,847 shares during the period. Royal Bank of Canada grew its holdings in PubMatic by 2.8% during the third quarter. Royal Bank of Canada now owns 1,219,599 shares of the company’s stock valued at $20,282,000 after purchasing an additional 32,960 shares during the period. Graham Holdings Co increased its stake in PubMatic by 27.0% during the 3rd quarter. Graham Holdings Co now owns 1,081,811 shares of the company’s stock worth $17,991,000 after purchasing an additional 229,916 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of PubMatic in the 1st quarter valued at about $21,971,000. 41.61% of the stock is owned by institutional investors.

PubMatic Company Profile

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.