Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells 40,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBMGet Rating) Chairman Amar K. Goel sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $17.22, for a total transaction of $688,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PubMatic Stock Performance

PubMatic stock opened at $16.22 on Friday. The firm has a market cap of $841.40 million, a price-to-earnings ratio of 16.90 and a beta of 0.66. PubMatic, Inc. has a 1 year low of $14.73 and a 1 year high of $43.65. The firm’s 50 day moving average price is $18.63 and its two-hundred day moving average price is $20.35.

PubMatic (NASDAQ:PUBMGet Rating) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.07. The firm had revenue of $63.03 million for the quarter, compared to analyst estimates of $60.64 million. PubMatic had a net margin of 21.64% and a return on equity of 19.13%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, equities analysts predict that PubMatic, Inc. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. The Manufacturers Life Insurance Company purchased a new position in PubMatic during the 1st quarter worth approximately $21,971,000. Renaissance Technologies LLC purchased a new position in PubMatic during the 4th quarter worth approximately $23,173,000. State Street Corp grew its position in PubMatic by 471.4% during the 2nd quarter. State Street Corp now owns 753,049 shares of the company’s stock worth $11,966,000 after purchasing an additional 621,258 shares in the last quarter. Goldman Sachs Group Inc. grew its position in PubMatic by 462.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 412,626 shares of the company’s stock worth $10,778,000 after purchasing an additional 339,233 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in PubMatic by 13.8% during the 1st quarter. Vanguard Group Inc. now owns 2,682,842 shares of the company’s stock worth $70,076,000 after purchasing an additional 325,631 shares in the last quarter. 42.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of PubMatic from $23.00 to $20.00 in a report on Thursday, August 4th. Raymond James raised their target price on shares of PubMatic from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. KeyCorp cut shares of PubMatic to a “sector weight” rating in a report on Tuesday, August 9th. Lake Street Capital cut their target price on shares of PubMatic from $26.00 to $24.00 in a report on Tuesday, August 9th. Finally, JMP Securities cut their price target on PubMatic from $40.00 to $34.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.75.

About PubMatic

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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Insider Buying and Selling by Quarter for PubMatic (NASDAQ:PUBM)

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