Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) General Counsel Sells $38,273.41 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 4,111 shares of PubMatic stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the transaction, the general counsel now directly owns 39,509 shares of the company’s stock, valued at approximately $367,828.79. This trade represents a 9.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Stock Performance

NASDAQ PUBM opened at $8.25 on Friday. PubMatic, Inc. has a one year low of $7.90 and a one year high of $25.36. The stock has a 50-day moving average of $12.44 and a 200 day moving average of $14.27. The company 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 announced its quarterly earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $85.50 million during the quarter, compared to the consensus estimate of $88.24 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, equities analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On PubMatic

Hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in shares of PubMatic in the third quarter worth $170,000. Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the period. FMR LLC increased its position in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PubMatic by 37.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.