PubMatic (NASDAQ:PUBM) Sets New 12-Month High at $24.53

PubMatic, Inc. (NASDAQ:PUBM) hit a new 52-week high during trading on Tuesday . The company traded as high as $24.53 and last traded at $24.17, with a volume of 340719 shares trading hands. The stock had previously closed at $23.53.

Analyst Ratings Changes

PUBM has been the topic of a number of recent research reports. JMP Securities boosted their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research note on Monday, March 25th. Finally, B. Riley began coverage on PubMatic in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $22.20.

PubMatic Stock Performance

The firm has a 50 day moving average price of $22.53 and a 200-day moving average price of $17.87. The company has a market cap of $1.20 billion, a P/E ratio of 160.14 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that PubMatic, Inc. will post 0.18 EPS for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PubMatic news, insider Paulina Klimenko sold 2,083 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $17.00, for a total value of $35,411.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajeev K. Goel sold 98,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.70, for a total value of $2,041,020.00. Following the completion of the transaction, the chief executive officer now directly owns 7,500 shares of the company’s stock, valued at approximately $155,250. The disclosure for this sale can be found here. Insiders sold a total of 192,063 shares of company stock worth $4,110,143 in the last 90 days. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Guinness Atkinson Asset Management Inc raised its position in PubMatic by 48.6% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in PubMatic in the 3rd quarter valued at $68,000. SG Americas Securities LLC bought a new position in PubMatic in the 1st quarter valued at $107,000. Public Employees Retirement System of Ohio bought a new position in PubMatic in the 3rd quarter valued at $142,000. Finally, Quantbot Technologies LP bought a new position in PubMatic in the 3rd quarter valued at $154,000. Institutional investors 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.