PubMatic (NASDAQ:PUBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PubMatic (NASDAQ:PUBM) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Citigroup restated an “outperform” rating on shares of PubMatic in a research report on Friday, August 7th. B. Riley Financial upped their target price on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a report on Friday, September 18th. Craig Hallum initiated coverage on shares of PubMatic in a research report on Thursday, September 24th. They set a “buy” rating and a $24.00 target price for the company. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Raymond James Financial upgraded shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Stock Down 1.0%

NASDAQ PUBM opened at $18.41 on Friday. The company has a market capitalization of $838.58 million, a price-to-earnings ratio of -61.36 and a beta of 1.58. PubMatic has a twelve month low of $6.15 and a twelve month high of $19.19. The stock has a fifty day simple moving average of $15.98 and a 200 day simple moving average of $12.42.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The business had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. Research analysts expect that PubMatic will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Andrew Woods sold 38,331 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the transaction, the general counsel directly owned 39,761 shares of the company’s stock, valued at $714,107.56. This trade represents a 49.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,548 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $321,430.20. Following the completion of the sale, the chief financial officer owned 64,820 shares of the company’s stock, valued at approximately $884,793. This trade represents a 26.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 597,079 shares of company stock valued at $9,729,494 in the last three months. 27.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after purchasing an additional 321,200 shares during the period. CenterBook Partners LP boosted its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the period. S Squared Technology LLC increased its stake in shares of PubMatic by 7.7% in the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock worth $2,492,000 after purchasing an additional 20,000 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of PubMatic during the 2nd quarter valued at approximately $2,076,000. Finally, Quantinno Capital Management LP grew its stake in PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after buying an additional 147,386 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.