PubMatic (NASDAQ:PUBM) Cut to “Hold” at Wall Street Zen

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

Other research analysts have also recently issued reports about the company. Weiss Ratings cut PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Rosenblatt Securities boosted their target price on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Lake Street Capital reiterated a “buy” rating and set a $20.00 target price on shares of PubMatic in a research report on Friday, August 7th. B. Riley Financial increased their price target on shares of PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Craig Hallum initiated coverage on shares of PubMatic in a research report on Thursday, September 24th. They issued a “buy” rating and a $24.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $19.73.

PubMatic Trading Down 3.8%

Shares of PubMatic stock opened at $16.59 on Friday. The stock has a market capitalization of $755.67 million, a price-to-earnings ratio of -55.30 and a beta of 1.56. PubMatic has a 1-year low of $6.15 and a 1-year high of $19.48. The firm’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $11.92.

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

Insider Activity

In related news, General Counsel Andrew Woods sold 38,331 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the sale, the general counsel directly owned 39,761 shares of the company’s stock, valued at $714,107.56. The trade was a 49.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev Goel sold 211,302 shares of PubMatic stock in a transaction 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 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 610,951 shares of company stock valued at $10,910,572. 27.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PubMatic

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its holdings in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after acquiring an additional 1,915 shares during the last quarter. Versant Capital Management Inc increased its position in PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares during the period. Diversified Trust Co increased its position in PubMatic by 20.8% during the 1st quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock valued at $144,000 after purchasing an additional 3,022 shares during the period. WINTON GROUP Ltd raised its holdings in PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in PubMatic by 12.2% during the 4th quarter. Hsbc Holdings PLC now owns 64,590 shares of the company’s stock worth $573,000 after purchasing an additional 7,034 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.