PubMatic (NASDAQ:PUBM) Price Target Lowered to $19.00 at Royal Bank of Canada

PubMatic (NASDAQ:PUBM) had its price target cut by Royal Bank of Canada from $21.00 to $19.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently issued reports on PUBM. Macquarie reiterated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Scotiabank assumed coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $15.33 on Friday. PubMatic has a 52 week low of $13.18 and a 52 week high of $25.36. The company’s fifty day moving average is $15.69 and its 200-day moving average is $16.57. The company has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40.

Insider Buying and Selling at PubMatic

In other news, General Counsel Andrew Woods sold 3,529 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the sale, the general counsel now directly owns 34,702 shares of the company’s stock, valued at $514,977.68. This represents a 9.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $16.56, for a total value of $66,240.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. This trade represents a 15.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,799 shares of company stock worth $1,672,374. Company insiders own 2.90% of the company’s stock.

Institutional Trading of PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at about $29,000. Founders Capital Management increased its stake in shares of PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at about $38,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter valued at about $51,000. Finally, FMR LLC increased its stake in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. 64.26% of the stock is 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.