Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CAO Sells 2,397 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CAO Lisa Gimbel sold 2,397 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $13.66, for a total value of $32,743.02. Following the completion of the transaction, the chief accounting officer now directly owns 3,956 shares in the company, valued at $54,038.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lisa Gimbel also recently made the following trade(s):

• On Tuesday, August 27th, Lisa Gimbel sold 900 shares of PubMatic stock. The shares were sold at an average price of $15.83, for a total value of $14,247.00.

PubMatic Stock Down 1.9 %

Shares of NASDAQ PUBM opened at $15.25 on Thursday. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36. The stock’s 50 day moving average price is $18.96 and its 200-day moving average price is $20.76. The company has a market capitalization of $761.45 million, a PE ratio of 72.62 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. PubMatic’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts expect that PubMatic, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PUBM shares. Royal Bank of Canada dropped their price objective on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Macquarie decreased their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. B. Riley decreased their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Jefferies Financial Group decreased their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of PubMatic during the first quarter worth $1,412,000. Inspire Investing LLC purchased a new stake in shares of PubMatic during the first quarter worth $1,249,000. Panagora Asset Management Inc. lifted its position 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 acquiring an additional 87,435 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of PubMatic by 1,073.9% in the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares during the period. Finally, Sei Investments Co. bought a new position in shares of PubMatic in the first quarter worth $572,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.