PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total value of $151,480.00. Following the completion of the sale, the insider now directly owns 30,958 shares in the company, valued at $669,931.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PubMatic Stock Performance

NASDAQ PUBM opened at $21.57 on Thursday. The stock’s fifty day moving average is $20.81 and its two-hundred day moving average is $16.86. The firm has a market capitalization of $1.08 billion, a P/E ratio of 143.81 and a beta of 1.52. PubMatic, Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $24.18.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. As a group, sell-side analysts forecast that PubMatic, Inc. will post 0.17 EPS for the current year.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. Wellington Management Group LLP purchased a new stake in PubMatic in the third quarter valued at $3,701,000. Aptus Capital Advisors LLC purchased a new stake in PubMatic in the third quarter valued at $1,350,000. Guinness Atkinson Asset Management Inc raised its position in PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in PubMatic by 8.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock valued at $7,113,000 after purchasing an additional 35,286 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in PubMatic in the third quarter valued at $154,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. B. Riley raised their price objective on PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price target on shares of PubMatic in a research note on Monday, March 25th. Finally, JMP Securities lifted their price target on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

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.