PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $151,480.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.64, for a total transaction of $151,480.00. Following the transaction, the insider now directly owns 30,958 shares of the company’s stock, valued at $669,931.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PubMatic Price Performance

Shares of PubMatic stock opened at $21.61 on Friday. The business has a fifty day simple moving average of $21.05 and a two-hundred day simple moving average of $16.97. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $24.18. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 144.08 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.34 earnings per share (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 business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities analysts anticipate that PubMatic, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. Advisor Group Holdings Inc. lifted its holdings in shares of PubMatic by 78.8% during the first quarter. Advisor Group Holdings Inc. now owns 10,383 shares of the company’s stock worth $271,000 after buying an additional 4,575 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of PubMatic by 56.1% during the first quarter. Raymond James & Associates now owns 53,311 shares of the company’s stock worth $1,392,000 after buying an additional 19,153 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of PubMatic by 39.9% during the first quarter. Citigroup Inc. now owns 6,605 shares of the company’s stock worth $173,000 after buying an additional 1,883 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of PubMatic during the first quarter worth $1,682,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of PubMatic by 78.4% during the first quarter. Acadian Asset Management LLC now owns 15,160 shares of the company’s stock worth $393,000 after buying an additional 6,660 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

PUBM has been the subject of several analyst reports. JMP Securities raised their target price on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. B. Riley initiated coverage on shares of PubMatic in a research note on Friday. They issued a “buy” rating and a $27.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 target price on shares of PubMatic in a research note on Monday, March 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

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.