Amar K. Goel Sells 24,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Amar K. Goel sold 24,000 shares of PubMatic stock in a transaction that occurred on Wednesday, January 12th. The shares were sold at an average price of $28.12, for a total value of $674,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PUBM opened at $26.20 on Friday. The company has a market capitalization of $1.34 billion and a PE ratio of 30.82. The stock has a fifty day moving average of $34.85 and a two-hundred day moving average of $31.32. PubMatic, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $76.96.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, November 9th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.15. The firm had revenue of $58.09 million for the quarter, compared to analyst estimates of $52.29 million. As a group, research analysts anticipate that PubMatic, Inc. will post 0.77 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of PubMatic by 1.1% during the 3rd quarter. Royal Bank of Canada now owns 844,191 shares of the company’s stock worth $22,245,000 after buying an additional 9,041 shares during the last quarter. BlackRock Inc. increased its holdings in shares of PubMatic by 13.5% during the 3rd quarter. BlackRock Inc. now owns 691,320 shares of the company’s stock worth $18,216,000 after buying an additional 81,969 shares during the last quarter. Yale University purchased a new stake in PubMatic during the 3rd quarter worth $15,465,000. Vanguard Group Inc. boosted its position in PubMatic by 89.1% during the 2nd quarter. Vanguard Group Inc. now owns 528,536 shares of the company’s stock worth $20,650,000 after purchasing an additional 249,087 shares during the period. Finally, Moody Aldrich Partners LLC boosted its position in PubMatic by 16.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 406,440 shares of the company’s stock worth $10,710,000 after purchasing an additional 56,725 shares during the period. Institutional investors and hedge funds own 18.40% of the company’s stock.

A number of equities research analysts have weighed in on PUBM shares. Zacks Investment Research lowered PubMatic from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer boosted their price target on PubMatic from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Royal Bank of Canada boosted their price target on PubMatic from $47.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Raymond James boosted their price target on PubMatic from $43.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Finally, Berenberg Bank began coverage on PubMatic in a research note on Wednesday, September 22nd. They issued a “buy” rating and a $37.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.67.

About PubMatic

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include PubMatic Cloud, which offers a customizable platform as a service; Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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