Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells 3,889 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,889 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now owns 7,935 shares in the company, valued at $113,549.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PubMatic Trading Down 0.5 %

NASDAQ:PUBM traded down $0.07 during midday trading on Thursday, hitting $14.36. 307,027 shares of the company were exchanged, compared to its average volume of 482,942. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $25.36. The company has a market capitalization of $717.01 million, a PE ratio of 68.38 and a beta of 1.39. The company has a fifty day simple moving average of $15.86 and a 200 day simple moving average of $19.95.

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

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. Vanguard Group Inc. increased its holdings in shares of PubMatic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after acquiring an additional 22,713 shares during the period. Renaissance Technologies LLC grew its position in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in PubMatic by 92.5% in 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 during the period. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter valued at about $6,582,000. Finally, Wellington Management Group LLP boosted its stake in shares of PubMatic by 5.7% during the fourth quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after buying an additional 17,497 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Macquarie reduced their price target on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Wolfe Research initiated coverage on shares of PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target for the company. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group dropped their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.