PubMatic (NASDAQ:PUBM) Stock: Insider Andrew Woods Sells 5,744 Shares

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 5,744 shares of the business’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $108,963.68. Following the transaction, the general counsel owned 49,840 shares of the company’s stock, valued at approximately $945,464.80. The trade was a 10.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Woods also recently made the following trade(s):

• On Monday, August 10th, Andrew Woods sold 38,331 shares of PubMatic stock. The shares were sold at an average price of $17.96, for a total value of $688,424.76.

PubMatic Stock Performance

NASDAQ PUBM traded up $0.18 during trading on Monday, reaching $18.60. 646,336 shares of the company’s stock were exchanged, compared to its average volume of 693,762. The company has a 50 day moving average price of $16.48 and a two-hundred day moving average price of $12.72. The stock has a market cap of $847.23 million, a P/E ratio of -62.00 and a beta of 1.56. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $19.48.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd lifted its stake in PubMatic by 28.0% in the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after buying an additional 3,700 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock worth $815,000 after acquiring an additional 39,023 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of PubMatic during the second quarter worth approximately $872,000. Pinnacle Holdings LLC acquired a new position in shares of PubMatic in the 2nd quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in PubMatic in the 2nd quarter valued at $1,595,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Citigroup reaffirmed an “outperform” rating on shares of PubMatic in a research report on Friday, August 7th. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Rosenblatt Securities boosted their price target on shares of PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, B. Riley Financial boosted their price target on shares of PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and an average price target of $19.73.

PubMatic Company Profile

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.