PubMatic’s (PUBM) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of PubMatic (NASDAQ:PUBM – Get Rating) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $21.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Vertical Research downgraded shares of PubMatic to a neutral rating in a report on Tuesday, January 24th. Raymond James dropped their target price on shares of PubMatic from $18.00 to $17.00 and set an outperform rating for the company in a report on Wednesday, March 1st. Royal Bank of Canada dropped their target price on shares of PubMatic from $24.00 to $20.00 and set an outperform rating for the company in a report on Wednesday, March 1st. Jefferies Financial Group dropped their price objective on shares of PubMatic from $16.00 to $15.00 in a report on Thursday, December 15th. Finally, Oppenheimer dropped their price objective on shares of PubMatic from $23.00 to $17.00 and set an outperform rating for the company in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $18.14.

PubMatic Stock Performance

Shares of PubMatic stock opened at $13.12 on Thursday. The company has a market capitalization of $693.13 million, a P/E ratio of 26.24 and a beta of 0.92. The company has a fifty day moving average of $14.81 and a 200 day moving average of $15.60. PubMatic has a fifty-two week low of $12.19 and a fifty-two week high of $28.30.

Insider Buying and Selling at PubMatic

In other PubMatic news, insider Jeffrey K. Hirsch sold 5,000 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $13.90, for a total transaction of $69,500.00. Following the completion of the transaction, the insider now owns 7,662 shares of the company’s stock, valued at approximately $106,501.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Steven Pantelick sold 3,353 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $43,454.88. Following the sale, the chief financial officer now directly owns 27,766 shares in the company, valued at approximately $359,847.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey K. Hirsch sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $13.90, for a total transaction of $69,500.00. Following the sale, the insider now owns 7,662 shares in the company, valued at $106,501.80. The disclosure for this sale can be found here. Insiders sold 52,628 shares of company stock valued at $711,572 in the last 90 days. Insiders own 1.20% of the company’s stock.

Institutional Trading of PubMatic

Several hedge funds have recently made changes to their positions in PUBM. Advisor Group Holdings Inc. raised its position in PubMatic by 78.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 10,383 shares of the company’s stock worth $271,000 after purchasing an additional 4,575 shares during the period. Raymond James & Associates raised its position in PubMatic by 56.1% in the 1st quarter. Raymond James & Associates now owns 53,311 shares of the company’s stock worth $1,392,000 after purchasing an additional 19,153 shares during the period. Citigroup Inc. raised its position in PubMatic by 39.9% in the 1st quarter. Citigroup Inc. now owns 6,605 shares of the company’s stock worth $173,000 after purchasing an additional 1,883 shares during the period. Bank of Montreal Can purchased a new stake in PubMatic in the 1st quarter worth about $1,682,000. Finally, Acadian Asset Management LLC raised its position in PubMatic by 78.4% in the 1st quarter. Acadian Asset Management LLC now owns 15,160 shares of the company’s stock worth $393,000 after purchasing an additional 6,660 shares during the period. 41.61% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.