PubMatic (NASDAQ:PUBM) Price Target Raised to $25.00

PubMatic (NASDAQ:PUBM) had its target price hoisted by Rosenblatt Securities from $23.00 to $25.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on PUBM. Jefferies Financial Group raised their price objective on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. B. Riley Financial upped their target price on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Evercore reaffirmed an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research report on Monday, August 10th. Scotiabank upgraded PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Finally, Wall Street Zen cut PubMatic from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

PubMatic Stock Performance

Shares of PUBM stock opened at $19.02 on Tuesday. The company has a market capitalization of $866.36 million, a price-to-earnings ratio of -380.32 and a beta of 1.59. The company has a 50-day simple moving average of $17.51 and a 200 day simple moving average of $12.52. PubMatic has a 52 week low of $6.15 and a 52 week high of $19.48.

Insider Activity

In other news, insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $17.12, for a total value of $136,960.00. Following the sale, the insider directly owned 117,041 shares in the company, valued at approximately $2,003,741.92. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 10,079 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $18.65, for a total transaction of $187,973.35. Following the completion of the sale, the general counsel owned 39,761 shares in the company, valued at $741,542.65. This represents a 20.22% 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. Over the last ninety days, insiders sold 319,399 shares of company stock valued at $5,748,679. Corporate insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PUBM. First Trust Advisors LP bought a new stake in PubMatic during the 3rd quarter worth $439,000. Boston Partners acquired a new position in shares of PubMatic in the third quarter valued at approximately $20,230,000. Diversified Trust Co raised 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 during the last quarter. Russell Investments Group Ltd. raised 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in PubMatic during the 3rd quarter worth approximately $39,000. 64.26% of the stock is currently owned by institutional investors.

About PubMatic

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company’s services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.