Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $55,651.59 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares of the company’s stock, valued at $113,549.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PubMatic Stock Up 2.9 %

Shares of NASDAQ PUBM opened at $14.77 on Friday. PubMatic, Inc. has a 52 week low of $10.92 and a 52 week high of $25.36. The business’s 50 day moving average price is $15.71 and its 200 day moving average price is $19.89. The firm has a market cap of $737.48 million, a P/E ratio of 70.33 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The firm had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On PubMatic

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in PubMatic by 170.6% during the third quarter. SG Americas Securities LLC now owns 24,223 shares of the company’s stock worth $360,000 after acquiring an additional 15,273 shares during the period. Dana Investment Advisors Inc. purchased a new position in shares of PubMatic during the 2nd quarter valued at approximately $839,000. Truist Financial Corp acquired a new position in shares of PubMatic in the 2nd quarter valued at $380,000. Algert Global LLC boosted its holdings in PubMatic by 19.0% during the second quarter. Algert Global LLC now owns 171,125 shares of the company’s stock worth $3,476,000 after buying an additional 27,272 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in PubMatic during the second quarter valued at $6,582,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PUBM shares. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. B. Riley lowered their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Royal Bank of Canada dropped their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Macquarie decreased their price objective on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Jefferies Financial Group dropped their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

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.