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PubMatic (NASDAQ:PUBM) Sees Large Volume Increase

Defense World · Sep 28, 2022 06:21

Shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) saw strong trading volume on Monday . 26,001 shares traded hands during mid-day trading, a decline of 97% from the previous session's volume of 911,911 shares.The stock last traded at $16.25 and had previously closed at $16.25.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI upped their price objective on shares of PubMatic to $23.00 in a report on Monday, August 15th. Lake Street Capital decreased their price objective on shares of PubMatic from $26.00 to $24.00 in a report on Tuesday, August 9th. KeyCorp lowered shares of PubMatic to a "sector weight" rating in a report on Tuesday, August 9th. Raymond James upped their price objective on shares of PubMatic from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, August 9th. Finally, Jefferies Financial Group decreased their price objective on shares of PubMatic from $23.00 to $20.00 in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and an average price target of $32.75.

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PubMatic Stock Performance

The stock's 50-day moving average price is $18.67 and its two-hundred day moving average price is $20.25. The stock has a market capitalization of $849.70 million, a PE ratio of 17.06 and a beta of 0.66.

PubMatic (NASDAQ:PUBM – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. PubMatic had a net margin of 21.64% and a return on equity of 19.13%. The company had revenue of $63.03 million for the quarter, compared to the consensus estimate of $60.64 million. During the same period in the prior year, the firm posted $0.18 EPS. PubMatic's revenue for the quarter was up 26.9% on a year-over-year basis. On average, analysts predict that PubMatic, Inc. will post 0.68 earnings per share for the current fiscal year.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 2,640 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $40,339.20. Following the sale, the chief financial officer now directly owns 13,552 shares of the company's stock, valued at approximately $207,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rajeev K. Goel sold 5,865 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $89,617.20. Following the sale, the chief executive officer now owns 5,371 shares of the company's stock, valued at approximately $82,068.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 2,640 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $40,339.20. Following the sale, the chief financial officer now directly owns 13,552 shares in the company, valued at approximately $207,074.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,823 shares of company stock valued at $4,505,945. 1.20% of the stock is owned by insiders.

Institutional Trading of PubMatic

A number of institutional investors have recently made changes to their positions in the stock. Jasper Ridge Partners L.P. boosted its holdings in shares of PubMatic by 3.6% during the 1st quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company's stock valued at $393,000 after acquiring an additional 524 shares during the last quarter. Tyler Stone Wealth Management bought a new position in shares of PubMatic in the 4th quarter worth approximately $26,000. Verition Fund Management LLC lifted its stake in shares of PubMatic by 7.6% in the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company's stock worth $184,000 after purchasing an additional 819 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of PubMatic by 37.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company's stock worth $55,000 after purchasing an additional 960 shares during the period. Finally, Baldwin Brothers LLC MA bought a new position in shares of PubMatic in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 42.94% of the company's stock.

About PubMatic

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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 enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.