Other equities research analysts have also recently issued reports about the company. Lake Street Capital began coverage on PubMatic in a report on Wednesday, June 15th. They set a buy rating and a $26.00 target price for the company. Jefferies Financial Group cut PubMatic from a buy rating to a hold rating and decreased their price target for the stock from $28.00 to $23.00 in a research note on Tuesday, May 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PubMatic currently has an average rating of Moderate Buy and an average price target of $40.10.
PubMatic Trading Up 0.7 %
PUBM stock traded up $0.12 during mid-day trading on Tuesday, reaching $16.24. The company’s stock had a trading volume of 5,113 shares, compared to its average volume of 987,073. The company has a market cap of $842.43 million, a price-to-earnings ratio of 16.08 and a beta of 0.96. The business’s 50 day moving average price is $17.93 and its 200 day moving average price is $22.32. PubMatic has a 12 month low of $14.73 and a 12 month high of $43.65.
In other PubMatic news, General Counsel Thomas C. Chow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $21.74, for a total value of $217,400.00. Following the sale, the general counsel now owns 2,801 shares of the company’s stock, valued at $60,893.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PubMatic news, General Counsel Thomas C. Chow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $21.74, for a total value of $217,400.00. Following the sale, the general counsel now owns 2,801 shares of the company’s stock, valued at $60,893.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Pantelick sold 2,501 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $19.79, for a total value of $49,494.79. Following the sale, the chief financial officer now directly owns 10,051 shares in the company, valued at approximately $198,909.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,737 shares of company stock valued at $2,988,196. 1.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On PubMatic
A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Fiera Capital Corp acquired a new position in shares of PubMatic during the fourth quarter worth $48,487,000. The Manufacturers Life Insurance Company acquired a new position in PubMatic in the first quarter valued at $21,971,000. Renaissance Technologies LLC acquired a new position in PubMatic in the fourth quarter valued at $23,173,000. New York State Common Retirement Fund acquired a new position in PubMatic in the fourth quarter valued at $12,261,000. Finally, Goldman Sachs Group Inc. boosted its stake in 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 in the last quarter. Institutional investors and hedge funds own 37.58% of the company’s stock.
PubMatic Company Profile
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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