PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $151,480.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total transaction of $151,480.00. Following the sale, the insider now directly owns 30,958 shares of the company’s stock, valued at $669,931.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PubMatic Price Performance

NASDAQ:PUBM opened at $21.54 on Friday. The stock has a market cap of $1.08 billion, a P/E ratio of 143.61 and a beta of 1.52. The firm has a 50-day moving average of $20.93 and a two-hundred day moving average of $16.90. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $24.18.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.19 by $0.15. The firm had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. PubMatic’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, equities analysts expect that PubMatic, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. B. Riley upped their price target on shares of PubMatic from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, JMP Securities upped their price objective on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in PUBM. Ancora Advisors LLC bought a new stake in PubMatic during the fourth quarter worth approximately $26,000. Guinness Atkinson Asset Management Inc boosted its holdings in PubMatic by 48.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock worth $37,000 after buying an additional 992 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in PubMatic by 225.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,674 shares of the company’s stock worth $44,000 after buying an additional 2,546 shares in the last quarter. Lazard Asset Management LLC bought a new stake in PubMatic during the second quarter worth approximately $46,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of PubMatic in the 4th quarter valued at approximately $65,000. 64.26% of the stock is currently owned by 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.