Mukul Kumar Sells 7,897 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,897 shares of PubMatic stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total value of $107,794.05. Following the completion of the sale, the insider directly owned 112,945 shares of the company’s stock, valued at approximately $1,541,699.25. This trade represents a 6.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The stock was sold at an average price of $11.96, for a total transaction of $95,680.00.

PubMatic Stock Down 1.5%

NASDAQ PUBM opened at $13.32 on Wednesday. The firm has a market cap of $618.58 million, a P/E ratio of -35.05 and a beta of 1.51. The company’s 50 day moving average is $11.20 and its 200-day moving average is $9.17. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $13.99.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Equities analysts expect that PubMatic, Inc. will post -0.26 EPS for the current year.

Key Stories Impacting PubMatic

Here are the key news stories impacting PubMatic this week:

• Neutral Sentiment: CEO Rajeev Goel sold shares in two transactions, along with sales from the CFO, Chairman, General Counsel, and insider Mukul Kumar; the company said these were largely related to equity vesting and tax withholding rather than a change in outlook. Insider Selling: PubMatic (NASDAQ:PUBM) General Counsel Sells $78,596.70 in Stock
• Neutral Sentiment: PubMatic recently reported quarterly results that beat expectations on both EPS and revenue, which provides some fundamental support for the stock even as shares remain near their 52-week high. PubMatic stock information
• Negative Sentiment: The concentration of insider selling from multiple senior leaders may still be viewed by investors as a cautious signal, especially after the stock’s recent run-up toward its 52-week high. PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 6,584 Shares

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PUBM shares. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of PubMatic in a research report on Thursday, April 23rd. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada raised their price target on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PUBM. Millennium Management LLC raised its position in PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares in the last quarter. Simcoe Capital LLC bought a new stake in PubMatic during the fourth quarter worth about $3,625,000. CenterBook Partners LP boosted its holdings in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after purchasing an additional 321,200 shares in the last quarter. Finally, UBS Group AG increased its position in shares of PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after purchasing an additional 303,479 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.