PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods Sells 3,266 Shares

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,266 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.41, for a total value of $66,659.06. Following the transaction, the general counsel now directly owns 28,070 shares of the company’s stock, valued at approximately $572,908.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Stock Up 1.1 %

Shares of PubMatic stock opened at $20.67 on Thursday. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $25.36. The company has a 50 day moving average of $21.97 and a 200 day moving average of $19.89. The company has a market capitalization of $1.03 billion, a P/E ratio of 98.43 and a beta of 1.44.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on PUBM shares. Royal Bank of Canada boosted their price target 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 shares of PubMatic in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Hedge Funds Weigh In On PubMatic

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of PubMatic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after buying an additional 22,713 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after acquiring an additional 228,190 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 92.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 purchasing an additional 35,286 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after purchasing an additional 17,497 shares during the last quarter. 64.26% of the stock is currently 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.