Macquarie Reaffirms “Neutral” Rating for PubMatic (NASDAQ:PUBM)

Macquarie reaffirmed their neutral rating on shares of PubMatic (NASDAQ:PUBM) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $19.00 price objective on the stock.

Other analysts have also issued reports about the company. B. Riley lowered their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group reduced their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, Evercore ISI boosted their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

PubMatic Stock Performance

Shares of PubMatic stock traded down $0.54 during mid-day trading on Thursday, hitting $15.09. 169,650 shares of the stock were exchanged, compared to its average volume of 463,810. The company has a market capitalization of $748.22 million, a P/E ratio of 48.52 and a beta of 1.39. The company has a 50-day simple moving average of $14.90 and a 200 day simple moving average of $18.32. PubMatic has a 12 month low of $13.18 and a 12 month high of $25.36.

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

Insider Transactions at PubMatic

In other PubMatic news, CFO Steven Pantelick sold 4,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $14.45, for a total transaction of $57,800.00. Following the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $325,211.70. The trade was a 15.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Amar K. Goel sold 3,889 shares of the company’s stock in a transaction 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 directly owns 7,935 shares in the company, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,391 shares of company stock worth $1,519,390. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of PubMatic by 9.1% in the first quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock valued at $465,000 after purchasing an additional 1,632 shares during the period. SG Americas Securities LLC purchased a new position in PubMatic during the first quarter worth about $107,000. Sei Investments Co. purchased a new stake in shares of PubMatic in the first quarter valued at approximately $572,000. Russell Investments Group Ltd. lifted its stake in shares of PubMatic by 1,073.9% in the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock valued at $2,990,000 after purchasing an additional 115,300 shares during the period. Finally, Vanguard Group Inc. increased its holdings in PubMatic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after acquiring an additional 22,713 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

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.