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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $16.78, for a total value of $134,240.00. Following the sale, the insider directly owned 112,945 shares of the company’s stock, valued at $1,895,217.10. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $17.05, for a total value of $136,400.00.
• On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total value of $107,794.05.

PubMatic Stock Up 1.3%

Shares of PUBM opened at $17.55 on Friday. The stock has a 50 day moving average price of $15.42 and a 200 day moving average price of $11.99. The company has a market capitalization of $799.40 million, a price-to-earnings ratio of -58.50 and a beta of 1.58. PubMatic, Inc. has a 52-week low of $6.15 and a 52-week high of $19.19.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, equities analysts anticipate that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PUBM shares. Weiss Ratings lowered PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. B Riley reissued a “buy” rating on shares of PubMatic in a research report on Friday. Citizens Jmp raised their price target on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. B. Riley Financial lifted their price target on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Evercore reiterated an “outperform” rating and issued a $21.00 price objective on shares of PubMatic in a research note on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.30.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd raised its position in PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after buying an additional 3,700 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of PubMatic by 168.8% in the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock valued at $815,000 after acquiring an additional 39,023 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of PubMatic in the second quarter valued at about $872,000. Pinnacle Holdings LLC acquired a new position in shares of PubMatic during the second quarter worth about $2,076,000. Finally, Bank of New York Mellon Corp purchased a new position in PubMatic during the second quarter worth about $1,595,000. 64.26% of the stock is owned by institutional investors and hedge funds.

PubMatic Company Profile

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.