PubMatic (NASDAQ:PUBM) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of PubMatic (NASDAQ:PUBM) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

PUBM has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research report on Friday, August 7th. Finally, Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $8.00 to $21.00 in a report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

PubMatic Price Performance

Shares of PUBM opened at $16.50 on Friday. PubMatic has a 1-year low of $6.15 and a 1-year high of $18.44. The stock has a market cap of $751.58 million, a PE ratio of -55.00 and a beta of 1.58. The firm has a fifty day moving average price of $14.77 and a 200 day moving average price of $11.29.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. As a group, equities analysts expect that PubMatic will post -0.09 EPS for the current fiscal year.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev Goel sold 211,302 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $17.74, for a total transaction of $3,748,497.48. Following the completion of the sale, the chief executive officer directly owned 31,692 shares of the company’s stock, valued at $562,216.08. This represents a 86.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven Pantelick sold 23,548 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total value of $321,430.20. Following the sale, the chief financial officer directly owned 64,820 shares of the company’s stock, valued at $884,793. The trade was a 26.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 625,703 shares of company stock worth $9,649,686 in the last quarter. Company insiders own 27.78% of the company’s stock.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in PubMatic by 246.5% in the second quarter. California State Teachers Retirement System now owns 7,059 shares of the company’s stock valued at $93,000 after purchasing an additional 5,022 shares during the period. Public Employees Retirement System of Ohio acquired a new position in PubMatic during the 2nd quarter worth approximately $872,000. Pinnacle Holdings LLC acquired a new position in PubMatic during the 2nd quarter worth approximately $2,076,000. Bank of New York Mellon Corp purchased a new position in shares of PubMatic during the 2nd quarter worth approximately $1,595,000. Finally, Versant Capital Management Inc raised its stake in shares of PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after buying an additional 2,482 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.