PubMatic (NASDAQ:PUBM) Given “Neutral” Rating at Macquarie

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

Several other research firms also recently weighed in on PUBM. Royal Bank of Canada cut their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Evercore ISI boosted their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group dropped their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, B. Riley dropped their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and an average price target of $21.71.

PubMatic Stock Performance

Shares of PUBM traded down $0.54 during mid-day trading on Thursday, reaching $15.09. The company had a trading volume of 169,650 shares, compared to its average volume of 463,810. The company has a market capitalization of $748.22 million, a price-to-earnings ratio of 48.52 and a beta of 1.39. The company’s 50 day simple moving average is $14.90 and its 200 day simple moving average is $18.32. PubMatic has a 1-year low of $13.18 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $71.79 million during the quarter, compared to the consensus estimate of $66.14 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. As a group, equities analysts forecast that PubMatic will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Amar K. Goel sold 3,889 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares of the company’s stock, valued at $113,549.85. This trade represents a 32.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew Woods sold 2,710 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total transaction of $41,463.00. Following the transaction, the general counsel now owns 26,739 shares in the company, valued at $409,106.70. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,391 shares of company stock valued at $1,519,390 over the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new position in shares of PubMatic during the second quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in PubMatic during the second quarter worth $38,000. Founders Capital Management lifted its stake in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of PubMatic during the third quarter valued at about $51,000. Finally, FMR LLC grew its holdings in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

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.