PubMatic’s (PUBM) Neutral Rating Reiterated at Macquarie

Macquarie restated their neutral rating on shares of PubMatic (NASDAQ:PUBM) in a report issued on Thursday morning,Benzinga reports. They currently have a $19.00 price target on the stock.

PUBM has been the topic of several other reports. Jefferies Financial Group reduced their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. B. Riley reduced their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Evercore ISI upped their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada dropped their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Finally, Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.71.

PubMatic Price Performance

Shares of PUBM stock opened at $14.88 on Thursday. The business’s 50 day simple moving average is $14.91 and its 200 day simple moving average is $18.24. PubMatic has a one year low of $13.18 and a one year high of $25.36. The stock has a market capitalization of $737.75 million, a PE ratio of 48.00 and a beta of 1.39.

Insider Buying and Selling

In related news, Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares of the company’s stock, valued at approximately $113,549.85. This trade represents a 32.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.21, for a total value of $60,840.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $342,316.26. The trade was a 15.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,391 shares of company stock worth $1,519,390 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in PubMatic in the second quarter worth $6,582,000. Renaissance Technologies LLC grew 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 purchasing an additional 265,700 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in PubMatic by 1,073.9% during the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock valued at $2,990,000 after buying an additional 115,300 shares during the last quarter. Sei Investments Co. lifted its stake in shares of PubMatic by 190.6% in the 2nd quarter. Sei Investments Co. now owns 70,129 shares of the company’s stock valued at $1,424,000 after purchasing an additional 45,998 shares during the last quarter. Finally, Dana Investment Advisors Inc. bought a new stake in shares of PubMatic in the 2nd quarter valued at approximately $839,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.