Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Insider Sells 9,496 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 9,496 shares of PubMatic stock in a transaction on Monday, June 17th. The shares were sold at an average price of $21.08, for a total value of $200,175.68. Following the transaction, the insider now owns 30,958 shares in the company, valued at $652,594.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, April 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $21.64, for a total value of $151,480.00.

PubMatic Price Performance

Shares of PUBM traded down $0.76 on Tuesday, hitting $20.39. The company’s stock had a trading volume of 222,209 shares, compared to its average volume of 451,586. The company has a market capitalization of $1.02 billion, a PE ratio of 100.72 and a beta of 1.48. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The company has a 50 day moving average price of $22.55 and a 200 day moving average price of $19.66.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The firm had revenue of $66.70 million for the quarter, compared to the consensus estimate of $62.19 million. During the same quarter in the prior year, the business earned ($0.09) EPS. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts forecast that PubMatic, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JMP Securities lifted their target price on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 27th. Royal Bank of Canada lifted their price objective on PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, B. Riley began coverage on PubMatic in a research report on Friday, April 19th. They issued a “buy” rating and a $27.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of PubMatic in the 3rd quarter valued at $3,701,000. Dimensional Fund Advisors LP increased its holdings in shares of PubMatic by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the period. Hillsdale Investment Management Inc. bought a new position in PubMatic in the first quarter valued at approximately $4,711,000. Finally, Russell Investments Group Ltd. increased its stake in PubMatic by 1,073.9% in the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock valued at $2,990,000 after acquiring an additional 115,300 shares during the last quarter. Institutional investors and hedge funds 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.