PubMatic (NASDAQ:PUBM) Receives “Market Outperform” Rating from JMP Securities

PubMatic (NASDAQ:PUBM)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $20.00 price objective on the stock. JMP Securities’ price target would indicate a potential upside of 32.08% from the stock’s previous close.

Several other research analysts also recently issued reports on PUBM. Scotiabank initiated coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. Evercore ISI increased their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Macquarie restated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Finally, Royal Bank of Canada dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.00.

PubMatic Price Performance

Shares of NASDAQ PUBM traded up $0.17 during trading hours on Monday, reaching $15.14. The stock had a trading volume of 147,899 shares, compared to its average volume of 289,464. PubMatic has a twelve month low of $13.18 and a twelve month high of $25.36. The business’s fifty day moving average is $15.45 and its two-hundred day moving average is $16.00. The company has a market cap of $723.33 million, a price-to-earnings ratio of 48.98 and a beta of 1.41.

Insider Activity at PubMatic

In other news, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at $325,211.70. This represents a 15.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.31, for a total value of $407,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,190 shares of company stock valued at $1,956,331. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PUBM. Leibman Financial Services Inc. boosted its stake in shares of PubMatic by 17.0% during the 4th quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock worth $833,000 after acquiring an additional 8,231 shares during the period. Nordea Investment Management AB lifted its stake in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after buying an additional 269,217 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PubMatic by 239.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after buying an additional 43,971 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of PubMatic during the 3rd quarter worth about $941,000. Finally, Virtu Financial LLC bought a new position in PubMatic in the 3rd quarter valued at about $240,000. Institutional investors and hedge funds 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.