Mukul Kumar Sells 9,496 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 9,496 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $21.08, for a total transaction of $200,175.68. Following the sale, the insider now owns 30,958 shares of the company’s stock, valued at $652,594.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, April 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $21.64, for a total transaction of $151,480.00.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $20.39 on Thursday. The company’s 50 day simple moving average is $22.49 and its 200 day simple moving average is $19.69. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 97.10 and a beta of 1.48. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PUBM shares. JMP Securities raised their price objective on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 27th. Royal Bank of Canada raised their target price on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, B. Riley began coverage on shares of PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in PubMatic in the third quarter valued at approximately $3,701,000. Panagora Asset Management Inc. grew its stake in shares of PubMatic by 139.3% during the fourth quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock worth $2,450,000 after buying an additional 87,435 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of PubMatic by 8.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after buying an additional 35,286 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of PubMatic during the fourth quarter worth $469,000. Finally, Versor Investments LP grew its stake in shares of PubMatic by 16.0% during the fourth quarter. Versor Investments LP now owns 22,247 shares of the company’s stock worth $363,000 after buying an additional 3,073 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

PubMatic Company Profile

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.