PubMatic (NASDAQ:PUBM) Given Neutral Rating at Macquarie

Macquarie restated their neutral rating on shares of PubMatic (NASDAQ:PUBM) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $19.00 price target on the stock.

Several other research analysts also recently commented on PUBM. Royal Bank of Canada dropped their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley dropped their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group decreased their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

PubMatic Stock Down 4.8 %

PUBM opened at $14.88 on Thursday. The firm has a 50-day simple moving average of $14.91 and a two-hundred day simple moving average of $18.20. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36. The company has a market capitalization of $737.75 million, a PE ratio of 48.00 and a beta of 1.39.

Insider Activity

In related news, General Counsel Andrew Woods sold 2,710 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.30, for a total value of $41,463.00. Following the sale, the general counsel now directly owns 26,739 shares of the company’s stock, valued at $409,106.70. This represents a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This trade represents a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,391 shares of company stock worth $1,519,390. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after purchasing an additional 7,225 shares during the period. Barclays PLC increased its position in shares of PubMatic by 93.1% during the third quarter. Barclays PLC now owns 129,196 shares of the company’s stock worth $1,921,000 after acquiring an additional 62,284 shares during the period. Main Management ETF Advisors LLC purchased a new position in shares of PubMatic during the third quarter worth approximately $565,000. Wellington Management Group LLP increased its position in shares of PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after acquiring an additional 100,479 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.