Insider Selling: PubMatic (NASDAQ:PUBM) Insider Sells $136,960.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the company’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $17.12, for a total transaction of $136,960.00. Following the completion of the transaction, the insider directly owned 117,041 shares in the company, valued at $2,003,741.92. This trade represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 2nd, Mukul Kumar sold 7,878 shares of PubMatic stock. The stock was sold at an average price of $18.97, for a total value of $149,445.66.
• 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 value 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 value of $136,400.00.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $17.46 on Thursday. The business’s 50-day moving average price is $17.40 and its two-hundred day moving average price is $13.62. PubMatic, Inc. has a one year low of $6.15 and a one year high of $19.48. The company has a market capitalization of $795.30 million, a P/E ratio of -58.20 and a beta of 1.56.

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 company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. On average, equities analysts anticipate that PubMatic, Inc. will post -0.09 EPS for the current year.

Institutional Trading of PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of PubMatic in the 1st quarter valued at approximately $1,687,000. Pinnacle Holdings LLC bought a new position in shares of PubMatic in the 2nd quarter valued at approximately $2,076,000. Finally, Diversified Investment Strategies LLC raised its stake in shares of PubMatic by 40.0% in the 1st quarter. Diversified Investment Strategies LLC now owns 140,000 shares of the company’s stock valued at $1,145,000 after acquiring an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PUBM shares. Rosenblatt Securities raised their price objective 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. Weiss Ratings cut shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Craig Hallum initiated coverage on shares of PubMatic in a research report on Thursday, September 24th. They issued a “buy” rating and a $24.00 target price for the company. Evercore reissued an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research report on Monday, August 10th. Finally, Raymond James Financial upgraded shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.73.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.