PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $55,651.59 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the transaction, the chairman now owns 7,935 shares in the company, valued at $113,549.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

PubMatic Price Performance

PUBM traded down $0.07 during trading on Thursday, reaching $14.36. 307,027 shares of the stock were exchanged, compared to its average volume of 482,942. The company has a market capitalization of $717.01 million, a price-to-earnings ratio of 68.38 and a beta of 1.39. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36. The business’s 50 day moving average price is $15.86 and its two-hundred day moving average price is $19.95.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The business had revenue of $67.27 million for the quarter, compared to analyst estimates of $70.07 million. During the same period in the previous year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts anticipate that PubMatic, Inc. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PUBM shares. B. Riley lowered their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wolfe Research started coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Raymond James downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group dropped their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Macquarie reduced their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Three equities 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Trading of PubMatic

Large investors have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic during the second quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic during the second quarter worth about $38,000. SG Americas Securities LLC purchased a new position in shares of PubMatic during the first quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after buying an additional 3,280 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in PubMatic during the first quarter worth approximately $222,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.