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.
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.
- Get a free copy of the StockNews.com research report on PubMatic (PUBM)
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