PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel Sells 4,446 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,446 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $41,392.26. Following the transaction, the chairman now directly owns 18,401 shares of the company’s stock, valued at $171,313.31. This represents a 19.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

PubMatic Price Performance

PubMatic stock opened at $8.37 on Friday. PubMatic, Inc. has a one year low of $8.32 and a one year high of $25.36. The business’s fifty day moving average is $12.58 and its 200 day moving average is $14.31. The stock has a market capitalization of $406.17 million, a PE ratio of 27.00 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The company had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. As a group, sell-side analysts expect that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently added to or reduced their stakes in PUBM. Wellington Management Group LLP grew its holdings in shares of PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the period. Avestar Capital LLC purchased a new position in PubMatic in the fourth quarter worth about $4,701,000. Nordea Investment Management AB boosted its position in PubMatic by 377.4% in the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock valued at $3,325,000 after purchasing an additional 163,979 shares during the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Lake Street Capital dropped their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada dropped their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average price target of $19.89.

PubMatic Company Profile

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.