Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $89,386.70 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,770 shares of PubMatic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $23.71, for a total transaction of $89,386.70. Following the completion of the sale, the chairman now directly owns 2,640 shares of the company’s stock, valued at approximately $62,594.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Amar K. Goel also recently made the following trade(s):

• On Tuesday, March 5th, Amar K. Goel sold 3,454 shares of PubMatic stock. The stock was sold at an average price of $20.69, for a total value of $71,463.26.

PubMatic Trading Up 1.6 %

Shares of PUBM stock opened at $23.28 on Friday. The company has a market cap of $1.16 billion, a PE ratio of 155.21 and a beta of 1.52. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $24.18. The business’s fifty day simple moving average is $20.27 and its 200-day simple moving average is $16.55.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.19 by $0.15. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, equities analysts forecast that PubMatic, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PUBM. B. Riley lifted their price target on shares of PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. JMP Securities lifted their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective on shares of PubMatic in a report on Monday, March 25th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in PubMatic in the 4th quarter valued at $26,000. Guinness Atkinson Asset Management Inc raised its holdings in shares of PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after buying an additional 992 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of PubMatic by 225.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock worth $44,000 after buying an additional 2,546 shares during the period. Lazard Asset Management LLC purchased a new position in shares of PubMatic during the second quarter worth about $46,000. Finally, Point72 Asset Management L.P. acquired a new position in PubMatic in the 4th quarter valued at about $65,000. Hedge funds and other 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.