PubMatic (NASDAQ:PUBM) Insider Mukul Kumar Sells 8,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $17.05, for a total value of $136,400.00. Following the completion of the sale, the insider owned 112,945 shares in the company, valued at $1,925,712.25. The trade was a 6.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mukul Kumar also recently made the following trade(s):

• On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total value of $107,794.05.
• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $11.96, for a total value of $95,680.00.

PubMatic Trading Up 0.5%

PubMatic stock opened at $17.36 on Wednesday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $18.44. The stock’s 50 day simple moving average is $13.45 and its two-hundred day simple moving average is $10.42. The firm has a market cap of $790.75 million, a PE ratio of -57.86 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The firm had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. On average, equities research analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current year.

Institutional Trading of PubMatic

Several institutional investors have recently modified their holdings of PUBM. Quarry LP acquired a new position in shares of PubMatic during the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 buying an additional 1,915 shares during the last quarter. State of Wyoming purchased a new stake in PubMatic during the 1st quarter worth approximately $61,000. Tower Research Capital LLC TRC increased its stake in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after buying an additional 3,541 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after acquiring an additional 4,856 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PUBM shares. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $8.00 to $21.00 in a research report on Friday, August 7th. Citigroup restated an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Lake Street Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of PubMatic in a report on Friday, August 7th. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Friday, August 7th. Finally, Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

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.