PubMatic (NASDAQ:PUBM) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded PubMatic from “Hold” to “Buy.” Most analysts are positive: 12 rate the stock Buy, one Hold and one Sell, for a consensus “Moderate Buy” and an average price target of $21.
• Other firms also expressed optimism: Citizens JMP raised its price target to $20, while Rosenblatt lifted its target to $25; UBS and Citigroup reiterated positive ratings.
• PubMatic shares opened at $20.61, up 8.4% according to the article. Insiders sold 369,399 shares worth about $6.7 million over the past quarter.

PubMatic (NASDAQ:PUBM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently commented on PUBM. UBS Group reaffirmed a "buy" rating on shares of PubMatic in a report on Tuesday. Citizens Jmp lifted their price target on shares of PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Citigroup reiterated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of PubMatic in a research report on Wednesday, November 4th. Finally, Rosenblatt Securities boosted their price objective on shares of PubMatic from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

PubMatic Stock Up 8.4%

Shares of NASDAQ:PUBM opened at $20.61 on Friday. The firm's 50 day moving average price is $17.59 and its 200-day moving average price is $12.58. PubMatic has a twelve month low of $6.15 and a twelve month high of $20.81. The stock has a market capitalization of $938.79 million, a PE ratio of -412.12 and a beta of 1.59.

Insider Activity

In related news, insider Mukul Kumar sold 8,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $17.05, for a total transaction of $136,400.00. Following the completion of the transaction, the insider directly owned 112,945 shares in the company, valued at approximately $1,925,712.25. The trade was a 6.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Rajeev K. Goel sold 50,453 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $18.45, for a total transaction of $930,857.85. Following the completion of the sale, the chief executive officer directly owned 50,453 shares of the company's stock, valued at $930,857.85. This represents a 50.00% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 369,399 shares of company stock worth $6,684,179. 27.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently modified their holdings of PUBM. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PubMatic in the third quarter worth $39,000. State of Wyoming bought a new stake in shares of PubMatic during the 1st quarter valued at $61,000. Versant Capital Management Inc lifted 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 valued at $140,000 after buying an additional 2,482 shares in the last quarter. Sei Investments Co. purchased a new position in shares of PubMatic during the 1st quarter valued at $129,000. Finally, WINTON GROUP Ltd lifted its stake in shares of PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company's stock valued at $222,000 after buying an additional 3,700 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company's services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.

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