Insider Selling: PubMatic (NASDAQ:PUBM) Insider Sells $149,445.66 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,878 shares of PubMatic stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $149,445.66. Following the completion of the sale, the insider owned 125,041 shares of the company’s stock, valued at $2,372,027.77. The trade was a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 16th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $16.78, for a total transaction of $134,240.00.
• On Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $17.05, for a total transaction of $136,400.00.

PubMatic Stock Performance

Shares of PUBM stock traded up $0.18 during trading hours on Monday, reaching $18.60. The company had a trading volume of 646,336 shares, compared to its average volume of 693,762. The business has a fifty day moving average price of $16.48 and a 200-day moving average price of $12.72. PubMatic, Inc. has a one year low of $6.15 and a one year high of $19.48. The firm has a market cap of $847.23 million, a PE ratio of -62.00 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Equities research analysts forecast that PubMatic, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PUBM. Lake Street Capital restated a “buy” rating and issued a $20.00 price target on shares of PubMatic in a research note on Friday, August 7th. Wall Street Zen upgraded PubMatic from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Rosenblatt Securities increased their target price on PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, August 7th. B. Riley Financial raised their target price on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Craig Hallum began coverage on PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after purchasing an additional 321,200 shares in the last quarter. CenterBook Partners LP lifted its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares in the last quarter. S Squared Technology LLC lifted its position in PubMatic by 7.7% during the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock valued at $2,492,000 after purchasing an additional 20,000 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in PubMatic during the second quarter valued at about $2,076,000. Finally, Quantinno Capital Management LP grew its holdings in PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after purchasing an additional 147,386 shares during the period. Institutional investors own 64.26% of the company’s stock.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.