PubMatic (NASDAQ:PUBM) Now Covered by Analysts at Craig Hallum

Stock analysts at Craig Hallum assumed coverage on shares of PubMatic (NASDAQ:PUBM) in a research report issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $24.00 price target on the stock. Craig Hallum’s target price would indicate a potential upside of 37.54% from the stock’s current price.

PUBM has been the subject of a number of other research reports. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, August 7th. Citigroup reiterated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Citizens Jmp boosted their target price on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Lake Street Capital reissued a “buy” rating and issued a $20.00 price target on shares of PubMatic in a research note on Friday, August 7th. Finally, B. Riley Financial raised their target price on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.73.

PubMatic Trading Down 1.8%

NASDAQ:PUBM opened at $17.45 on Thursday. PubMatic has a twelve month low of $6.15 and a twelve month high of $19.19. The company has a market cap of $794.85 million, a PE ratio of -58.16 and a beta of 1.58. The company’s 50 day moving average is $15.66 and its two-hundred day moving average is $12.21.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. As a group, analysts expect that PubMatic will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Amar K. Goel sold 6,250 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.04, for a total transaction of $106,500.00. Following the completion of the sale, the chairman directly owned 35,580 shares in the company, valued at approximately $606,283.20. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 19,716 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $17.31, for a total transaction of $341,283.96. Following the completion of the transaction, the chief financial officer owned 10,353 shares of the company’s stock, valued at $179,210.43. This trade represents a 65.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 546,626 shares of company stock valued at $8,798,636 in the last quarter. 27.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming bought a new position in shares of PubMatic during the first quarter valued at about $61,000. Savant Capital LLC purchased a new stake in PubMatic in the fourth quarter worth about $110,000. Sei Investments Co. purchased a new stake in PubMatic during the 1st quarter valued at approximately $129,000. Finally, Versant Capital Management Inc grew its holdings in PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares during the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

About PubMatic

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.