PubMatic (NASDAQ:PUBM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

PubMatic, Inc. (NASDAQ:PUBM)’s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $17.39 and traded as high as $17.95. PubMatic shares last traded at $17.81, with a volume of 619,229 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley Financial upped their price target on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Lake Street Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Craig Hallum assumed 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. Jefferies Financial Group upped their target price on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, August 11th. Finally, Scotiabank raised PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $8.00 to $21.00 in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.73.

PubMatic Price Performance

The company has a market capitalization of $811.25 million, a price-to-earnings ratio of -59.36 and a beta of 1.59. The firm has a 50-day moving average price of $17.39 and a two-hundred day moving average price of $12.30.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, equities analysts predict that PubMatic, Inc. will post -0.09 EPS for the current year.

Insider Activity

In related news, CEO Rajeev Goel sold 50,453 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $18.45, for a total transaction of $930,857.85. Following the transaction, the chief executive officer directly owned 50,453 shares in the company, valued at approximately $930,857.85. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Andrew Woods sold 38,331 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $17.96, for a total transaction of $688,424.76. Following the transaction, the general counsel owned 39,761 shares in the company, valued at $714,107.56. This represents a 49.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 400,149 shares of company stock valued at $7,170,140 over the last three months. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PUBM. Diversified Trust Co grew its holdings in PubMatic by 64.2% in the 3rd quarter. Diversified Trust Co now owns 28,841 shares of the company’s stock valued at $540,000 after buying an additional 11,277 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in PubMatic by 86.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 155,596 shares of the company’s stock valued at $2,915,000 after buying an additional 71,968 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in PubMatic in the third quarter valued at approximately $39,000. Avestar Capital LLC boosted its holdings in shares of PubMatic by 250.3% in the 3rd quarter. Avestar Capital LLC now owns 192,688 shares of the company’s stock valued at $3,609,000 after purchasing an additional 137,688 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its holdings in shares of PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.