Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CAO Sells 2,397 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CAO Lisa Gimbel sold 2,397 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.66, for a total transaction of $32,743.02. Following the completion of the transaction, the chief accounting officer now directly owns 3,956 shares of the company’s stock, valued at approximately $54,038.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Lisa Gimbel also recently made the following trade(s):

• On Tuesday, August 27th, Lisa Gimbel sold 900 shares of PubMatic stock. The stock was sold at an average price of $15.83, for a total transaction of $14,247.00.

PubMatic Price Performance

PUBM stock traded down $0.47 during midday trading on Tuesday, hitting $15.54. 533,433 shares of the stock traded hands, compared to its average volume of 498,091. The firm has a market cap of $775.93 million, a P/E ratio of 74.00 and a beta of 1.44. The stock’s fifty day simple moving average is $19.16 and its 200-day simple moving average is $20.80. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) earnings per share. On average, research analysts predict that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PUBM shares. B. Riley decreased their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Wolfe Research began coverage on shares of PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group cut their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after buying an additional 22,713 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PubMatic by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after purchasing an additional 228,190 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after purchasing an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in PubMatic by 92.5% during 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 in the last quarter. Finally, Millennium Management LLC purchased a new position in PubMatic during the second quarter valued at $6,582,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.