PubMatic (NASDAQ:PUBM) Shares Gap Up - Time to Buy?

Shares of PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $10.71, but opened at $11.43. PubMatic shares last traded at $11.18, with a volume of 187,654 shares traded.

Analyst Upgrades and Downgrades

PUBM has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Scotiabank dropped their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Finally, Lake Street Capital cut their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.11.

PubMatic Trading Down 0.4%

The company has a fifty day moving average of $10.67 and a 200-day moving average of $12.50. The company has a market capitalization of $536.74 million, a price-to-earnings ratio of 138.25 and a beta of 1.54.

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

Insiders Place Their Bets

In other news, CEO Rajeev K. Goel sold 25,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total value of $228,500.00. Following the transaction, the chief executive officer now directly owns 32,304 shares of the company's stock, valued at approximately $295,258.56. This trade represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew Woods sold 4,111 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the sale, the general counsel now directly owns 39,509 shares of the company's stock, valued at approximately $367,828.79. This represents a 9.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,157 shares of company stock valued at $1,124,437 in the last 90 days. 26.42% of the stock is owned by insiders.

Institutional Investors Weigh In On PubMatic

A number of large investors have recently made changes to their positions in the stock. Graham Holdings Co lifted its position in PubMatic by 21.4% during the first quarter. Graham Holdings Co now owns 2,831,462 shares of the company's stock worth $25,880,000 after buying an additional 500,000 shares in the last quarter. Nuveen LLC acquired a new stake in shares of PubMatic in the 1st quarter worth $3,963,000. Acadian Asset Management LLC raised its holdings in shares of PubMatic by 483.6% during the 1st quarter. Acadian Asset Management LLC now owns 457,033 shares of the company's stock worth $4,174,000 after acquiring an additional 378,714 shares during the period. Pacer Advisors Inc. purchased a new position in shares of PubMatic during the 1st quarter worth $2,455,000. Finally, Wellington Management Group LLP boosted its position in shares of PubMatic by 20.0% during the 1st quarter. Wellington Management Group LLP now owns 1,077,921 shares of the company's stock valued at $9,852,000 after acquiring an additional 179,951 shares during the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Company Profile

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.