PubMatic (NASDAQ:PUBM) Trading Up 9% - Should You Buy?

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report)'s share price traded up 9% on Monday . The company traded as high as $12.54 and last traded at $12.71. 117,650 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 491,496 shares. The stock had previously closed at $11.66.

Analysts Set New Price Targets

Several research analysts have issued reports on PUBM shares. Royal Bank Of Canada reduced their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Lake Street Capital cut their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and an average target price of $19.11.

PubMatic Price Performance

The business has a 50 day moving average of $11.30 and a 200 day moving average of $12.13. The firm has a market capitalization of $622.40 million, a price-to-earnings ratio of 160.33 and a beta of 1.54.

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

Insider Transactions at PubMatic

In other news, CFO Steven Pantelick sold 15,690 shares of PubMatic stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $12.82, for a total transaction of $201,145.80. Following the transaction, the chief financial officer directly owned 30,702 shares of the company's stock, valued at $393,599.64. This trade represents a 33.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 4,417 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $55,477.52. Following the completion of the transaction, the chairman directly owned 20,516 shares of the company's stock, valued at $257,680.96. This trade represents a 17.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,294 shares of company stock valued at $2,123,986. Corporate insiders own 26.42% of the company's stock.

Institutional Investors Weigh In On PubMatic

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in shares of PubMatic during the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC acquired a new stake in PubMatic during the 4th quarter worth approximately $29,000. GAMMA Investing LLC lifted its stake in 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 buying an additional 2,785 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic in the fourth quarter valued at approximately $57,000. Finally, Tower Research Capital LLC TRC increased its position in shares of PubMatic by 75.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after acquiring an additional 2,240 shares in the last quarter. 64.26% of the stock is currently owned by 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.