Brokerages Set PubMatic, Inc. (NASDAQ:PUBM) Price Target at $12.44

Shares of PubMatic, Inc. (NASDAQ:PUBM) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $12.4375.

Several equities research analysts have recently weighed in on PUBM shares. Wall Street Zen cut PubMatic from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Thursday, January 22nd. B. Riley Financial raised their price target on shares of PubMatic from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Rosenblatt Securities upped their price objective on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $14.00 target price on shares of PubMatic in a research note on Monday, January 5th.

PubMatic Price Performance

PubMatic stock opened at $6.40 on Friday. The firm has a fifty day moving average price of $7.72 and a two-hundred day moving average price of $8.29. PubMatic has a fifty-two week low of $6.15 and a fifty-two week high of $14.80. The firm has a market cap of $297.06 million, a price-to-earnings ratio of -33.68 and a beta of 1.58.

Insider Transactions at PubMatic

In related news, General Counsel Andrew Woods sold 4,881 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.61, for a total value of $42,025.41. Following the completion of the transaction, the general counsel directly owned 59,769 shares in the company, valued at approximately $514,611.09. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 18,398 shares of PubMatic stock in a transaction on Monday, January 5th. The stock was sold at an average price of $8.81, for a total transaction of $162,086.38. Following the sale, the chief financial officer owned 28,685 shares in the company, valued at $252,714.85. This represents a 39.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 431,650 shares of company stock worth $3,434,455 over the last 90 days. Insiders own 26.42% of the company’s stock.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently made changes to their positions in PUBM. Wellington Management Group LLP boosted its position in shares of PubMatic by 10.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after acquiring an additional 135,070 shares in the last quarter. CenterBook Partners LP lifted its stake in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the period. Geode Capital Management LLC lifted its stake in PubMatic by 5.3% during the second quarter. Geode Capital Management LLC now owns 985,948 shares of the company’s stock worth $12,267,000 after purchasing an additional 49,209 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the period. 64.26% of the stock is owned by institutional investors.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.