PubMatic (NASDAQ:PUBM) Insider Sells $136,400.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $17.05, for a total transaction of $136,400.00. Following the transaction, the insider owned 112,945 shares in the company, valued at approximately $1,925,712.25. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total transaction of $107,794.05.
• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00.

PubMatic Stock Performance

PubMatic stock opened at $16.39 on Friday. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $18.44. The firm has a 50 day moving average price of $13.66 and a 200 day moving average price of $10.55. The company has a market cap of $746.56 million, a price-to-earnings ratio of -54.63 and a beta of 1.54.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PUBM shares. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Scotiabank raised 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 note on Friday, August 7th. Rosenblatt Securities increased their target price on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Evercore restated an “outperform” rating and issued a $21.00 price target on shares of PubMatic in a report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its stake in shares of PubMatic by 55.7% in the first quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after buying an additional 39,124 shares in the last quarter. Creative Planning acquired a new position in PubMatic during the 2nd quarter worth approximately $269,000. Rhumbline Advisers lifted its position in PubMatic by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after acquiring an additional 5,828 shares in the last quarter. Hsbc Holdings PLC lifted its position in PubMatic by 15.0% during the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock worth $596,000 after acquiring an additional 6,066 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in PubMatic by 10.0% in the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock worth $1,020,000 after acquiring an additional 7,468 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.