PubMatic (NASDAQ:PUBM) Trading Down 9.5% – Here’s What Happened

PubMatic, Inc. (NASDAQ:PUBM)’s stock price dropped 9.5% during trading on Thursday . The stock traded as low as $15.74 and last traded at $15.51. Approximately 153,478 shares were traded during trading, a decline of 48% from the average daily volume of 293,475 shares. The stock had previously closed at $17.14.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Evercore ISI boosted their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Macquarie restated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank assumed coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Finally, Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

PubMatic Trading Down 0.6 %

The stock has a fifty day simple moving average of $15.38 and a two-hundred day simple moving average of $15.48. The firm has a market cap of $749.99 million, a PE ratio of 50.65 and a beta of 1.41.

Insider Buying and Selling

In other news, insider Mukul Kumar sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00. Following the transaction, the insider now directly owns 44,888 shares in the company, valued at approximately $742,447.52. This represents a 13.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the sale, the general counsel now owns 34,702 shares of the company’s stock, valued at $514,977.68. The trade was a 9.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 139,489 shares of company stock worth $2,168,677. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Northern Trust Corp increased its stake in PubMatic by 2.9% in the 4th quarter. Northern Trust Corp now owns 383,246 shares of the company’s stock worth $5,630,000 after purchasing an additional 10,749 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of PubMatic by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,025 shares of the company’s stock worth $397,000 after buying an additional 2,647 shares during the period. Tower Research Capital LLC TRC raised its holdings in PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after buying an additional 2,240 shares during the last quarter. Transce3nd LLC purchased a new stake in PubMatic during the 4th quarter valued at $567,000. Finally, Dimensional Fund Advisors LP grew its holdings in PubMatic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after acquiring an additional 84,317 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.