Amar K. Goel Sells 24,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Amar K. Goel sold 24,000 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were sold at an average price of $28.12, for a total value of $674,880.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of PUBM stock opened at $26.20 on Friday. The company has a market capitalization of $1.34 billion and a P/E ratio of 30.82. The business’s 50 day moving average is $34.85 and its two-hundred day moving average is $31.32. PubMatic, Inc. has a 12-month low of $21.61 and a 12-month high of $76.96.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Tuesday, November 9th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.15. The firm had revenue of $58.09 million for the quarter, compared to analyst estimates of $52.29 million. Equities research analysts anticipate that PubMatic, Inc. will post 0.77 EPS for the current year.

Several institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of PubMatic by 1.1% during the third quarter. Royal Bank of Canada now owns 844,191 shares of the company’s stock valued at $22,245,000 after acquiring an additional 9,041 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PubMatic by 13.5% during the third quarter. BlackRock Inc. now owns 691,320 shares of the company’s stock valued at $18,216,000 after acquiring an additional 81,969 shares during the last quarter. Yale University acquired a new stake in shares of PubMatic in the third quarter valued at approximately $15,465,000. Vanguard Group Inc. increased its holdings in shares of PubMatic by 89.1% in the second quarter. Vanguard Group Inc. now owns 528,536 shares of the company’s stock valued at $20,650,000 after purchasing an additional 249,087 shares during the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in shares of PubMatic by 16.2% in the third quarter. Moody Aldrich Partners LLC now owns 406,440 shares of the company’s stock valued at $10,710,000 after purchasing an additional 56,725 shares during the last quarter. 18.40% of the stock is owned by institutional investors and hedge funds.

PUBM has been the topic of several recent analyst reports. Evercore ISI upped their target price on PubMatic from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, November 10th. Raymond James boosted their price target on PubMatic from $43.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 10th. Zacks Investment Research downgraded PubMatic from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer boosted their price target on PubMatic from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 10th. Finally, Royal Bank of Canada boosted their price target on PubMatic from $47.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, November 10th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PubMatic currently has an average rating of “Buy” and a consensus target price of $48.67.

About PubMatic

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include PubMatic Cloud, which offers a customizable platform as a service; Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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