PubMatic, Inc. (NASDAQ:PUBM) Given Average Recommendation of “Hold” by Analysts

Shares of PubMatic, Inc. (NASDAQ:PUBM) have earned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.1875.

Several research firms recently issued reports on PUBM. Rosenblatt Securities raised their target price on shares of PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Lake Street Capital downgraded shares of PubMatic from a “buy” rating to a “hold” rating and cut their price target for the stock from $19.00 to $9.50 in a research note on Tuesday, August 12th. Wolfe Research reiterated an “outperform” rating and issued a $12.00 price target on shares of PubMatic in a report on Tuesday, November 11th. Scotiabank lowered their price objective on shares of PubMatic from $15.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th.

PubMatic Stock Down 3.5%

PUBM stock opened at $8.86 on Tuesday. The stock has a market capitalization of $411.28 million, a price-to-earnings ratio of -46.63 and a beta of 1.49. PubMatic has a 52-week low of $7.01 and a 52-week high of $17.32. The stock’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $9.92.

PubMatic (NASDAQ:PUBM) last released its earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. PubMatic had a negative return on equity of 2.78% and a negative net margin of 2.51%.The firm had revenue of $67.96 million during the quarter, compared to analyst estimates of $63.95 million. As a group, analysts anticipate that PubMatic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Amar K. Goel sold 4,468 shares of PubMatic stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $8.23, for a total value of $36,771.64. Following the transaction, the chairman directly owned 20,464 shares of the company’s stock, valued at $168,418.72. The trade was a 17.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Andrew Woods sold 4,131 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $8.23, for a total transaction of $33,998.13. Following the sale, the general counsel directly owned 51,495 shares of the company’s stock, valued at approximately $423,803.85. This trade represents a 7.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 256,519 shares of company stock worth $2,113,730. Corporate insiders own 26.42% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in PUBM. Avantax Advisory Services Inc. acquired a new stake in PubMatic in the 1st quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PubMatic by 36.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,931 shares of the company’s stock worth $155,000 after buying an additional 4,507 shares during the period. US Bancorp DE boosted its position in shares of PubMatic by 21.3% in the first quarter. US Bancorp DE now owns 14,736 shares of the company’s stock worth $135,000 after buying an additional 2,591 shares during the period. Deutsche Bank AG grew its stake in shares of PubMatic by 70.9% in the first quarter. Deutsche Bank AG now owns 162,594 shares of the company’s stock valued at $1,486,000 after buying an additional 67,477 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of PubMatic during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.