PubMatic (NASDAQ:PUBM) Shares Up 9% – Here’s What Happened

PubMatic, Inc. (NASDAQ:PUBMGet Free Report) shares rose 9% during trading on Monday . The stock traded as high as $12.54 and last traded at $12.71. Approximately 117,650 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 491,496 shares. The stock had previously closed at $11.66.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PUBM shares. Royal Bank Of Canada dropped their target price on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Lake Street Capital decreased their price objective on shares of PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

Get Our Latest Report on PubMatic

PubMatic Stock Up 8.8%

The stock has a market capitalization of $615.60 million, a PE ratio of 158.58 and a beta of 1.54. The stock’s 50-day moving average is $11.06 and its 200 day moving average is $12.18.

PubMatic (NASDAQ:PUBMGet Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The company had revenue of $63.83 million for the quarter, compared to analysts’ expectations of $62.07 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other PubMatic news, CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total value of $228,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,304 shares of the company’s stock, valued at $295,258.56. The trade was a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven Pantelick sold 12,061 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $112,287.91. Following the transaction, the chief financial officer now owns 41,410 shares in the company, valued at $385,527.10. This represents a 22.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,157 shares of company stock valued at $1,609,317 in the last three months. Insiders own 26.42% of the company’s stock.

Institutional Trading of PubMatic

Several large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of PubMatic by 23,208.3% in the first quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock valued at $26,000 after purchasing an additional 2,785 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic during the 4th quarter worth about $27,000. Cubist Systematic Strategies LLC bought a new stake in PubMatic during the 4th quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PubMatic in the 4th quarter valued at approximately $57,000. Finally, Headlands Technologies LLC acquired a new stake in PubMatic in the 1st quarter valued at approximately $69,000. Institutional investors own 64.26% of the company’s stock.

About PubMatic

(Get Free Report)

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.

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