PubMatic (NASDAQ:PUBM) Trading Up 6.3% – Here’s Why

PubMatic, Inc. (NASDAQ:PUBM) was up 6.3% during trading on Friday . The company traded as high as $12.13 and last traded at $12.2370. 53,306 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 692,594 shares. The stock had previously closed at $11.51.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Royal Bank Of Canada raised their price target on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus target price of $12.88.

PubMatic Stock Up 9.9%

The company has a market capitalization of $587.47 million, a PE ratio of -33.29 and a beta of 1.57. The stock has a 50-day moving average of $10.66 and a 200 day moving average of $8.96.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. The business had revenue of $62.57 million for the quarter, compared to analysts’ expectations of $60.42 million. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%. Equities analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mukul Kumar sold 8,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00. Following the completion of the transaction, the insider owned 100,869 shares in the company, valued at approximately $1,206,393.24. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 43,077 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $11.30, for a total transaction of $486,770.10. Following the sale, the chief executive officer owned 43,077 shares of the company’s stock, valued at $486,770.10. This trade represents a 50.00% decrease in their position. 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 90 days, insiders have sold 332,953 shares of company stock valued at $3,224,258. 27.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of PubMatic during the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares during the period. State of Wyoming bought a new stake in shares of PubMatic in the 1st quarter worth approximately $61,000. Tower Research Capital LLC TRC lifted its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.