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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 9,496 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $21.08, for a total transaction of $200,175.68. Following the sale, the insider now owns 30,958 shares of the company’s stock, valued at $652,594.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $151,480.00.

PubMatic Price Performance

PUBM stock opened at $20.39 on Wednesday. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36. The company has a market cap of $1.02 billion, a P/E ratio of 97.10 and a beta of 1.48. The firm has a 50-day moving average of $22.49 and a 200 day moving average of $19.69.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The business had revenue of $66.70 million during the quarter, compared to the consensus estimate of $62.19 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities research analysts expect that PubMatic, Inc. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its stake 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 valued at $10,440,000 after purchasing an additional 211,520 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of PubMatic by 149.6% during the first quarter. Public Employees Retirement System of Ohio now owns 29,207 shares of the company’s stock valued at $693,000 after purchasing an additional 17,507 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PubMatic by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after buying an additional 1,561 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of PubMatic during the first quarter valued at approximately $4,711,000. Finally, Vanguard Group Inc. grew its holdings in shares of PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after buying an additional 22,713 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on PUBM shares. JMP Securities upped their price objective 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. Royal Bank of Canada upped their price objective on shares of PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Finally, B. Riley began coverage on shares of PubMatic in a research note on Friday, April 19th. They issued a “buy” rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

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.