PubMatic (NASDAQ:PUBM) Reaches New 1-Year High at $24.07

PubMatic, Inc. (NASDAQ:PUBM) reached a new 52-week high during trading on Thursday . The company traded as high as $24.07 and last traded at $23.99, with a volume of 147888 shares. The stock had previously closed at $23.26.

Analysts Set New Price Targets

A number of research firms have commented on PUBM. B. Riley raised their target price on shares of PubMatic from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of PubMatic in a research note on Monday. JMP Securities raised their target price on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 27th. Finally, TheStreet upgraded shares of PubMatic from a “d” rating to a “c-” rating in a research note on Friday, December 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.20.

PubMatic Stock Performance

The business’s fifty day simple moving average is $18.44 and its 200-day simple moving average is $15.72. The firm has a market capitalization of $1.19 billion, a PE ratio of 155.07 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. During the same period last year, the firm posted $0.24 earnings per share. PubMatic’s revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts expect that PubMatic, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Amar K. Goel sold 2,574 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total value of $41,106.78. Following the completion of the sale, the chairman now directly owns 3,454 shares in the company, valued at $55,160.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Amar K. Goel sold 2,574 shares of PubMatic stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $15.97, for a total transaction of $41,106.78. Following the completion of the sale, the chairman now directly owns 3,454 shares in the company, valued at $55,160.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total value of $492,054.25. The disclosure for this sale can be found here. Insiders sold a total of 171,153 shares of company stock worth $3,312,918 over the last three months. 2.00% of the stock is owned by insiders.

Institutional Trading of PubMatic

Several institutional investors and hedge funds have recently made changes to their positions in PUBM. Ancora Advisors LLC bought a new stake in shares of PubMatic in the fourth quarter valued at about $26,000. Guinness Atkinson Asset Management Inc grew its stake in PubMatic by 48.6% in the third 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. Tower Research Capital LLC TRC grew its stake in PubMatic by 225.7% in the third quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock valued at $44,000 after purchasing an additional 2,546 shares during the last quarter. Lazard Asset Management LLC purchased a new position in PubMatic in the second quarter valued at about $46,000. Finally, Point72 Asset Management L.P. purchased a new position in PubMatic in the fourth quarter valued at about $65,000. 64.26% of the stock is currently owned by 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.