PubMatic (NASDAQ:PUBM) Trading Down 4.7%

PubMatic, Inc. (NASDAQ:PUBM – Get Rating)’s stock price fell 4.7% during trading on Monday . The stock traded as low as $21.24 and last traded at $21.24. 7,667 shares were traded during trading, a decline of 99% from the average session volume of 1,018,522 shares. The stock had previously closed at $22.28.

Several brokerages have recently commented on PUBM. JMP Securities decreased their price target on PubMatic from $64.00 to $49.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 1st. Raymond James cut their price objective on PubMatic from $50.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, March 1st. KeyCorp cut their price objective on PubMatic from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, March 1st. Royal Bank of Canada cut their price objective on PubMatic from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, March 16th. Finally, Zacks Investment Research upgraded PubMatic from a “sell” rating to a “hold” rating in a research report on Friday, May 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.00.

The company has a fifty day simple moving average of $23.66 and a two-hundred day simple moving average of $28.28. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 21.86 and a beta of 0.54.

PubMatic (NASDAQ:PUBM – Get Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.16. The business had revenue of $75.56 million during the quarter, compared to analyst estimates of $75.34 million. Equities research analysts forecast that PubMatic, Inc. will post 0.64 earnings per share for the current fiscal year.

In other news, insider Amar K. Goel sold 8,500 shares of the business’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $20.04, for a total transaction of $170,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mukul Kumar sold 1,012 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $27.74, for a total transaction of $28,072.88. Following the sale, the insider now directly owns 5,048 shares of the company’s stock, valued at $140,031.52. The disclosure for this sale can be found here. Insiders have sold a total of 144,693 shares of company stock valued at $3,255,802 over the last three months. Corporate insiders own 89.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in PubMatic by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock worth $70,076,000 after purchasing an additional 325,631 shares during the period. Fiera Capital Corp boosted its position in PubMatic by 0.9% in the 1st quarter. Fiera Capital Corp now owns 1,437,350 shares of the company’s stock valued at $37,544,000 after buying an additional 13,349 shares during the last quarter. Royal Bank of Canada boosted its position in PubMatic by 8.0% in the 1st quarter. Royal Bank of Canada now owns 1,181,482 shares of the company’s stock valued at $30,860,000 after buying an additional 87,549 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of PubMatic by 14.2% during the first quarter. Renaissance Technologies LLC now owns 776,900 shares of the company’s stock valued at $20,293,000 after acquiring an additional 96,346 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of PubMatic by 13.5% during the third quarter. BlackRock Inc. now owns 691,320 shares of the company’s stock worth $18,216,000 after acquiring an additional 81,969 shares during the last quarter. 37.58% of the stock is owned by hedge funds and other institutional investors.

About PubMatic (NASDAQ:PUBM)

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.

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