PubMatic (NASDAQ:PUBM) Sees Unusually-High Trading Volume

PubMatic, Inc. (NASDAQ:PUBM) shares saw strong trading volume on Monday . 421,625 shares changed hands during trading, a decline of 10% from the previous session’s volume of 469,370 shares.The stock last traded at $14.08 and had previously closed at $14.06.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on PubMatic in a research note on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price on the stock. Royal Bank of Canada decreased their target price on PubMatic from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group reduced their price target on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, B. Riley reduced their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.43.

PubMatic Stock Performance

The firm has a market cap of $682.04 million, a price-to-earnings ratio of 66.29 and a beta of 1.44. The firm has a 50-day moving average price of $20.35 and a two-hundred day moving average price of $20.84.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same quarter last year, the company earned ($0.11) EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $18.73, for a total transaction of $468,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $21.85, for a total value of $174,800.00. Following the transaction, the insider now owns 37,784 shares in the company, valued at approximately $825,580.40. The disclosure for this sale can be found here. Insiders have sold 117,324 shares of company stock worth $2,394,449 in the last quarter. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its stake in shares of PubMatic by 9.0% in the 4th quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after purchasing an additional 984 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at approximately $29,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of PubMatic by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after buying an additional 1,561 shares during the period. Empowered Funds LLC lifted its holdings in shares of PubMatic by 9.1% in the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock valued at $465,000 after buying an additional 1,632 shares during the period. Finally, Versor Investments LP lifted its holdings in shares of PubMatic by 8.2% in the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after buying an additional 1,677 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

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.