PubMatic (NASDAQ:PUBM) Stock: Insider Mukul Kumar Sells 7,878 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,878 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $149,445.66. Following the completion of the sale, the insider directly owned 125,041 shares of the company’s stock, valued at $2,372,027.77. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, September 16th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $16.78, for a total transaction of $134,240.00.
• On Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $17.05, for a total transaction of $136,400.00.

PubMatic Trading Up 1.0%

PubMatic stock traded up $0.18 during mid-day trading on Monday, hitting $18.60. The stock had a trading volume of 646,336 shares, compared to its average volume of 693,762. The firm has a market capitalization of $847.23 million, a P/E ratio of -62.00 and a beta of 1.56. The firm’s 50 day moving average is $16.48 and its 200 day moving average is $12.72. PubMatic, Inc. has a one year low of $6.15 and a one year high of $19.48.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. As a group, equities research analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares in the last quarter. CenterBook Partners LP boosted its stake in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares during the last quarter. S Squared Technology LLC boosted its stake in PubMatic by 7.7% during the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock valued at $2,492,000 after buying an additional 20,000 shares during the last quarter. Quantinno Capital Management LP grew its holdings in PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after buying an additional 147,386 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in PubMatic during the 1st quarter valued at approximately $1,687,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Rosenblatt Securities upped their price target on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. B. Riley Financial upped their price target on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Lake Street Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of PubMatic in a report on Friday, August 7th. Finally, Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $8.00 to $21.00 in a research report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus target price of $19.73.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.