PubMatic (NASDAQ:PUBM) Shares Up 5%

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) shares traded up 5% on Friday . The company traded as high as $24.04 and last traded at $23.98. 235,948 shares traded hands during trading, a decline of 49% from the average session volume of 462,140 shares. The stock had previously closed at $22.83.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PUBM. JMP Securities increased their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 27th. B. Riley initiated coverage on shares of PubMatic in a report on Friday, April 19th. They issued a "buy" rating and a $27.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on PubMatic from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and an average target price of $23.00.

PubMatic Trading Up 5.2 %

The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 114.39 and a beta of 1.52. The stock's 50 day moving average is $22.96 and its 200 day moving average is $18.50.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $62.19 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. On average, equities research analysts predict that PubMatic, Inc. will post 0.24 EPS for the current year.

Insider Activity

In other PubMatic news, insider Paulina Klimenko sold 24,275 shares of PubMatic stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.27, for a total value of $492,054.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Paulina Klimenko sold 24,275 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.27, for a total transaction of $492,054.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven Pantelick sold 8,876 shares of the company's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $23.71, for a total value of $210,449.96. Following the sale, the chief financial officer now owns 16,833 shares of the company's stock, valued at $399,110.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,180 shares of company stock valued at $4,128,632. 2.90% of the stock is owned by company insiders.

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of PubMatic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company's stock worth $2,107,000 after acquiring an additional 1,489 shares during the period. Principal Financial Group Inc. raised its stake in PubMatic by 47.7% during the third quarter. Principal Financial Group Inc. now owns 21,608 shares of the company's stock worth $261,000 after buying an additional 6,981 shares during the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company's stock valued at $37,000 after buying an additional 992 shares during the period. Versor Investments LP boosted its position in PubMatic by 14.0% during the third quarter. Versor Investments LP now owns 19,174 shares of the company's stock valued at $232,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in PubMatic during the 3rd quarter worth about $362,000. Institutional investors own 64.26% of the company's stock.

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.