PubMatic, Inc. (NASDAQ:PUBM) General Counsel Sells $44,663.52 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,076 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $14.52, for a total transaction of $44,663.52. Following the transaction, the general counsel now owns 32,349 shares in the company, valued at approximately $469,707.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Andrew Woods also recently made the following trade(s):

• On Tuesday, September 3rd, Andrew Woods sold 2,710 shares of PubMatic stock. The shares were sold at an average price of $15.30, for a total value of $41,463.00.

PubMatic Stock Down 0.5 %

Shares of PUBM stock traded down $0.07 during trading hours on Thursday, reaching $14.36. 307,027 shares of the stock traded hands, compared to its average volume of 482,942. The business has a fifty day moving average price of $15.86 and a 200 day moving average price of $19.95. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a market capitalization of $717.01 million, a PE ratio of 68.38 and a beta of 1.39.

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

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new stake in PubMatic in the second quarter valued at approximately $38,000. SG Americas Securities LLC bought a new stake in PubMatic in the first quarter worth approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in shares of PubMatic during the 1st quarter valued at $222,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PUBM shares. Wolfe Research started coverage on PubMatic in a research note on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price for the company. Jefferies Financial Group reduced their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada cut their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Macquarie reduced their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average price target of $21.00.

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.