PubMatic (NASDAQ:PUBM) Price Target Lowered to $22.00 at B. Riley

PubMatic (NASDAQ:PUBM) had its price objective lowered by B. Riley from $31.00 to $22.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

PUBM has been the topic of a number of other research reports. Raymond James cut PubMatic from an outperform rating to a market perform rating in a report on Friday. Jefferies Financial Group reduced their price objective on shares of PubMatic from $26.00 to $16.00 and set a hold rating on the stock in a research note on Friday. Royal Bank of Canada upped their target price on shares of PubMatic from $26.00 to $30.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Finally, Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an outperform rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $21.43.

PubMatic Price Performance

Shares of PUBM stock traded down $5.54 during trading hours on Friday, reaching $14.06. The company had a trading volume of 4,047,637 shares, compared to its average volume of 313,477. PubMatic has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a market cap of $702.02 million, a price-to-earnings ratio of 66.96 and a beta of 1.44. The company has a 50 day moving average of $20.63 and a 200 day moving average of $20.81.

Insider Transactions at PubMatic

In related news, Chairman Amar K. Goel sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $24.50, for a total value of $49,000.00. Following the sale, the chairman now directly owns 2,640 shares of the company’s stock, valued at approximately $64,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Amar K. Goel sold 2,000 shares of PubMatic stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $24.50, for a total value of $49,000.00. Following the sale, the chairman now owns 2,640 shares of the company’s stock, valued at approximately $64,680. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Amar K. Goel sold 3,755 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total value of $77,503.20. Following the transaction, the chairman now directly owns 5,242 shares of the company’s stock, valued at approximately $108,194.88. The disclosure for this sale can be found here. Insiders sold 117,324 shares of company stock valued at $2,394,449 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUBM. Vanguard Group Inc. raised its stake in shares of PubMatic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock worth $100,914,000 after purchasing an additional 22,713 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PubMatic by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after acquiring an additional 228,190 shares in the last quarter. Renaissance Technologies LLC raised its position in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in PubMatic by 92.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after acquiring an additional 211,520 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of PubMatic by 8.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock valued at $7,113,000 after acquiring an additional 35,286 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.