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

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,446 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $171,313.31. This represents a 19.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

PubMatic Stock Down 1.4 %

Shares of NASDAQ:PUBM opened at $8.25 on Friday. The stock has a market cap of $400.35 million, a P/E ratio of 26.61 and a beta of 1.50. PubMatic, Inc. has a 52-week low of $7.90 and a 52-week high of $25.36. The business’s 50 day moving average is $12.44 and its 200 day moving average is $14.27.

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

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of PubMatic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock valued at $22,531,000 after acquiring an additional 84,317 shares during the period. Geode Capital Management LLC grew its stake in PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares during the last quarter. Wellington Management Group LLP raised its holdings in PubMatic by 19.4% in the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after purchasing an additional 145,641 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of PubMatic by 1.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 683,064 shares of the company’s stock valued at $10,034,000 after buying an additional 6,600 shares during the last quarter. Finally, Nixon Capital LLC boosted its holdings in shares of PubMatic by 1.4% in the 4th quarter. Nixon Capital LLC now owns 578,259 shares of the company’s stock valued at $8,518,000 after buying an additional 7,966 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Lake Street Capital reduced their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Scotiabank dropped their target price 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 reiterated a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

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.