PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 8,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $21.85, for a total value of $174,800.00. Following the sale, the insider now directly owns 37,784 shares in the company, valued at approximately $825,580.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Mukul Kumar also recently made the following trade(s):

• On Monday, June 17th, Mukul Kumar sold 9,496 shares of PubMatic stock. The shares were sold at an average price of $21.08, for a total value of $200,175.68.

PubMatic Trading Down 2.5 %

Shares of NASDAQ:PUBM traded down $0.55 during mid-day trading on Wednesday, hitting $21.42. 217,588 shares of the company traded hands, compared to its average volume of 459,508. The stock has a 50-day moving average price of $21.49 and a two-hundred day moving average price of $20.14. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The stock has a market cap of $1.07 billion, a P/E ratio of 104.62 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The business had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $62.19 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was up 20.4% on a year-over-year basis. As a group, analysts expect that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. B. Riley assumed coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective on the stock. Wolfe Research assumed coverage on PubMatic in a report on Tuesday. They set an “outperform” rating and a $25.00 target price on the stock. Finally, Royal Bank of Canada lifted their target price on PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PUBM. SG Americas Securities LLC bought a new stake in shares of PubMatic in the first quarter valued at $107,000. Public Employees Retirement System of Ohio bought a new stake in shares of PubMatic in the third quarter valued at $142,000. SVB Wealth LLC bought a new stake in shares of PubMatic in the fourth quarter valued at $163,000. QRG Capital Management Inc. bought a new stake in shares of PubMatic in the fourth quarter valued at $191,000. Finally, Arizona State Retirement System raised its stake in shares of PubMatic by 9.0% in the fourth quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after buying an additional 984 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.