PubMatic (NASDAQ:PUBM) Sets New 12-Month High at $24.53

PubMatic, Inc. (NASDAQ:PUBM)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $24.53 and last traded at $24.17, with a volume of 340719 shares traded. The stock had previously closed at $23.53.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. B. Riley assumed coverage on PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective for the company. JMP Securities raised their price target on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 price target on shares of PubMatic in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $22.20.

PubMatic Trading Up 2.1 %

The business has a 50 day simple moving average of $22.53 and a 200-day simple moving average of $17.87. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 160.14 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.15. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Research analysts predict that PubMatic, Inc. will post 0.18 EPS for the current year.

Insider Activity

In other news, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total value of $492,054.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Andrew Woods sold 3,220 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.16, for a total transaction of $74,575.20. Following the sale, the general counsel now directly owns 21,153 shares in the company, valued at approximately $489,903.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paulina Klimenko sold 24,275 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.27, for a total value of $492,054.25. The disclosure for this sale can be found here. Insiders have sold 192,063 shares of company stock valued at $4,110,143 in the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently modified their holdings of PUBM. Dimensional Fund Advisors LP increased its holdings in PubMatic by 17.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in PubMatic by 8.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after purchasing an additional 35,286 shares during the last quarter. Wellington Management Group LLP increased its holdings in PubMatic by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after purchasing an additional 17,497 shares during the last quarter. Merit Financial Group LLC increased its holdings in PubMatic by 9.1% during the 4th quarter. Merit Financial Group LLC now owns 175,896 shares of the company’s stock worth $2,869,000 after purchasing an additional 14,703 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in PubMatic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock worth $2,107,000 after purchasing an additional 1,489 shares during the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

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.