PubMatic (NASDAQ:PUBM) Trading Down 9.5% – What’s Next?

PubMatic, Inc. (NASDAQ:PUBM) shares were down 9.5% during trading on Thursday . The company traded as low as $15.74 and last traded at $15.51. Approximately 153,478 shares were traded during trading, a decline of 48% from the average daily volume of 293,475 shares. The stock had previously closed at $17.14.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PUBM shares. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Macquarie reaffirmed a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

PubMatic Stock Down 0.6 %

The company has a market cap of $749.99 million, a P/E ratio of 50.65 and a beta of 1.41. The company has a fifty day moving average of $15.38 and a 200 day moving average of $15.48.

Insider Activity

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares in the company, valued at $372,699.36. This trade represents a 15.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew Woods sold 3,529 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the sale, the general counsel now directly owns 34,702 shares in the company, valued at $514,977.68. This trade represents a 9.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,489 shares of company stock valued at $2,168,677 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several large investors have recently bought and sold shares of PUBM. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic in the 4th quarter worth $27,000. New York State Teachers Retirement System bought a new stake in PubMatic during the third quarter worth approximately $51,000. FMR LLC increased its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the last quarter. International Assets Investment Management LLC raised its position in PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after purchasing an additional 4,855 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

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.