PubMatic, Inc. (NASDAQ:PUBM) Short Interest Up 34.9% in March

PubMatic, Inc. (NASDAQ:PUBM) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,470,000 shares, an increase of 34.9% from the February 28th total of 1,090,000 shares. Based on an average daily trading volume, of 457,400 shares, the short-interest ratio is currently 3.2 days. Approximately 3.2% of the shares of the company are short sold.

Analyst Ratings Changes

A number of analysts have commented on the company. Lake Street Capital reduced their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Scotiabank lowered their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

PubMatic Stock Performance

Shares of NASDAQ:PUBM traded up $0.15 on Tuesday, hitting $9.29. The stock had a trading volume of 443,099 shares, compared to its average volume of 442,575. The company has a market capitalization of $450.82 million, a price-to-earnings ratio of 29.97 and a beta of 1.48. The firm’s 50 day moving average price is $12.93 and its 200-day moving average price is $14.43. PubMatic has a twelve month low of $8.90 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The firm had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. As a group, sell-side analysts predict that PubMatic will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Amar K. Goel sold 4,087 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the sale, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. This trade represents a 22.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $264,048.12. Following the transaction, the chief executive officer now owns 30,896 shares of the company’s stock, valued at approximately $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,811 shares of company stock valued at $1,438,381 in the last three months. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently bought and sold shares of PUBM. Intech Investment Management LLC acquired a new stake in shares of PubMatic in the third quarter valued at $170,000. Charles Schwab Investment Management Inc. grew its holdings in PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares during the last quarter. FMR LLC raised its stake in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after acquiring an additional 3,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares in the last quarter. 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.