PubMatic (NASDAQ:PUBM) PT Lowered to $20.00

PubMatic (NASDAQ:PUBM – Get Rating) had its target price dropped by equities researchers at Royal Bank of Canada from $24.00 to $20.00 in a report released on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 47.28% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Oppenheimer dropped their price target on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI dropped their price target on shares of PubMatic to $18.00 in a research report on Tuesday, November 15th. JMP Securities dropped their price target on shares of PubMatic from $34.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 9th. Vertical Research lowered shares of PubMatic to a “neutral” rating in a research report on Tuesday, January 24th. Finally, Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $19.00 in a research report on Wednesday, November 9th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.14.

PubMatic Price Performance

PUBM opened at $13.58 on Wednesday. The firm has a market cap of $713.90 million, a P/E ratio of 27.16 and a beta of 0.92. PubMatic has a 1-year low of $12.19 and a 1-year high of $28.30. The company has a 50 day simple moving average of $14.69 and a two-hundred day simple moving average of $16.21.

Insider Buying and Selling

In related news, CFO Steven Pantelick sold 3,353 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $43,454.88. Following the completion of the transaction, the chief financial officer now owns 27,766 shares in the company, valued at $359,847.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jeffrey K. Hirsch sold 5,000 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $13.41, for a total transaction of $67,050.00. Following the sale, the insider now owns 7,662 shares of the company’s stock, valued at $102,747.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven Pantelick sold 3,353 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $43,454.88. Following the sale, the chief financial officer now directly owns 27,766 shares in the company, valued at approximately $359,847.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,628 shares of company stock worth $365,222. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently bought and sold shares of PUBM. The Manufacturers Life Insurance Company purchased a new stake in PubMatic during the first quarter valued at $21,971,000. State Street Corp raised its stake in PubMatic by 471.4% during the second quarter. State Street Corp now owns 753,049 shares of the company’s stock valued at $11,966,000 after purchasing an additional 621,258 shares in the last quarter. Nixon Capital LLC purchased a new stake in shares of PubMatic in the fourth quarter valued at $5,863,000. Nuveen Asset Management LLC raised its stake in shares of PubMatic by 260.3% in the third quarter. Nuveen Asset Management LLC now owns 487,111 shares of the company’s stock valued at $8,100,000 after acquiring an additional 351,918 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of PubMatic by 462.2% in the first quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock valued at $10,778,000 after acquiring an additional 339,233 shares during the period. Hedge funds and other institutional investors own 41.61% of the company’s stock.

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.