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

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

Analyst Upgrades and Downgrades

PUBM has been the subject of several recent analyst reports. B. Riley raised their target price on PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. TheStreet upgraded PubMatic from a “d” rating to a “c-” rating in a research note on Friday, December 8th. 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. Finally, JMP Securities raised their target price on PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.20.

PubMatic Price Performance

The stock has a market capitalization of $1.19 billion, a P/E ratio of 155.07 and a beta of 1.50. The company has a fifty day moving average of $18.44 and a two-hundred day moving average of $15.72.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to analyst estimates of $78.19 million. During the same period in the previous year, the company earned $0.24 earnings per share. PubMatic’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that PubMatic, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at PubMatic

In other PubMatic news, insider Paulina Klimenko sold 5,871 shares of PubMatic stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $15.23, for a total value of $89,415.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Rajeev K. Goel sold 98,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $20.70, for a total transaction of $2,041,020.00. Following the sale, the chief executive officer now owns 7,500 shares of the company’s stock, valued at $155,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paulina Klimenko sold 5,871 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $15.23, for a total value of $89,415.33. 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 ninety days. Company insiders own 2.00% 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. increased its holdings in shares of PubMatic by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,319,892 shares of the company’s stock valued at $71,840,000 after buying an additional 29,696 shares in the last quarter. BlackRock Inc. increased its holdings in shares of PubMatic by 19.8% in the second quarter. BlackRock Inc. now owns 3,311,217 shares of the company’s stock valued at $60,529,000 after buying an additional 546,233 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after buying an additional 228,190 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of PubMatic by 8.0% in the first quarter. Royal Bank of Canada now owns 1,181,482 shares of the company’s stock valued at $30,860,000 after buying an additional 87,549 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of PubMatic by 1.3% in the second quarter. State Street Corp now owns 902,872 shares of the company’s stock valued at $16,504,000 after buying an additional 11,564 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

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.