Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells 4,446 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,446 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $41,392.26. Following the transaction, the chairman now owns 18,401 shares in the company, valued at $171,313.31. This trade represents a 19.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PubMatic Trading Down 1.4 %

Shares of PUBM stock opened at $8.25 on Friday. PubMatic, Inc. has a twelve month low of $7.90 and a twelve month high of $25.36. The stock has a fifty day simple moving average of $12.44 and a two-hundred day simple moving average of $14.27. The stock has a market capitalization of $400.35 million, a price-to-earnings ratio of 26.61 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The business had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. Research analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the business. Pitcairn Co. lifted its holdings in PubMatic by 7.3% during the fourth quarter. Pitcairn Co. now owns 21,654 shares of the company’s stock worth $318,000 after buying an additional 1,477 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of PubMatic in the 4th quarter worth $27,000. Cubist Systematic Strategies LLC bought a new position in shares of PubMatic in the 4th quarter worth $29,000. Principal Financial Group Inc. lifted its stake in shares of PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock worth $370,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in PubMatic by 75.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Lake Street Capital cut their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Scotiabank cut their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.89.

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.