Amar K. Goel Sells 3,755 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,755 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $77,503.20. Following the completion of the sale, the chairman now owns 5,242 shares in the company, valued at approximately $108,194.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

PubMatic Trading Up 1.1 %

PUBM opened at $20.67 on Thursday. The stock has a 50-day moving average of $21.97 and a 200 day moving average of $19.89. PubMatic, Inc. has a 12 month low of $10.92 and a 12 month high of $25.36. The firm has a market cap of $1.03 billion, a P/E ratio of 98.43 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $62.19 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts forecast that PubMatic, Inc. will post 0.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PUBM shares. Royal Bank of Canada boosted their target price on PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. B. Riley initiated coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and an average price target of $23.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PUBM. SG Americas Securities LLC purchased a new stake in shares of PubMatic in the first quarter valued at $107,000. Public Employees Retirement System of Ohio bought a new position in PubMatic during the 3rd quarter valued at about $142,000. SVB Wealth LLC purchased a new stake in PubMatic in the 4th quarter worth about $163,000. QRG Capital Management Inc. bought a new stake in PubMatic in the fourth quarter worth about $191,000. Finally, Arizona State Retirement System boosted its position in shares of PubMatic by 9.0% during the fourth quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after buying an additional 984 shares during the period. 64.26% of the stock is 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.