PubMatic (NASDAQ:PUBM – Free Report) had its price target decreased by Raymond James from $22.00 to $18.00 in a report released on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the stock.
Several other equities analysts have also recently commented on the company. B. Riley assumed coverage on PubMatic in a research report on Wednesday, April 12th. They set a buy rating and a $20.00 target price for the company. JMP Securities lowered their price target on PubMatic from $21.00 to $17.00 and set a market outperform rating for the company in a research report on Thursday. Macquarie lowered PubMatic from an outperform rating to a neutral rating and lowered their price target for the company from $23.00 to $16.00 in a research report on Wednesday. Oppenheimer lowered PubMatic from an outperform rating to a market perform rating in a research report on Wednesday. Finally, Royal Bank of Canada lowered their price target on PubMatic from $23.00 to $21.00 and set an outperform rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic presently has a consensus rating of Moderate Buy and a consensus target price of $17.89.
Read Our Latest Analysis on PUBM
PubMatic Stock Up 1.6 %
Insider Buying and Selling
In other news, CFO Steven Pantelick sold 9,148 shares of the company’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $17.16, for a total value of $156,979.68. Following the completion of the sale, the chief financial officer now directly owns 12,595 shares of the company’s stock, valued at $216,130.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rajeev K. Goel sold 7,500 shares of PubMatic stock in a transaction on Friday, August 4th. The shares were sold at an average price of $19.51, for a total transaction of $146,325.00. Following the sale, the chief executive officer now owns 50,109 shares of the company’s stock, valued at approximately $977,626.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Pantelick sold 9,148 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $17.16, for a total transaction of $156,979.68. Following the transaction, the chief financial officer now directly owns 12,595 shares of the company’s stock, valued at $216,130.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,087 shares of company stock worth $2,135,301. Corporate insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of PUBM. Silicon Valley Capital Partners acquired a new position in shares of PubMatic during the 4th quarter worth $26,000. Ancora Advisors LLC bought a new stake in PubMatic in the 4th quarter valued at $26,000. Mendota Financial Group LLC bought a new stake in PubMatic in the 4th quarter valued at $37,000. Allworth Financial LP boosted its holdings in PubMatic by 135.3% in the 2nd quarter. Allworth Financial LP now owns 2,012 shares of the company’s stock valued at $37,000 after purchasing an additional 1,157 shares during the period. Finally, TFC Financial Management Inc. bought a new stake in PubMatic in the 4th quarter valued at $42,000. 42.12% of the stock is owned by institutional investors and hedge funds.
About PubMatic
PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides custom management tools and performance optimization insights; Openwrap OTT, a prebid-powered unified bidding solution; and Openwrap SDK, an enterprise-grade management tools and analytics.
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