PubMatic (NASDAQ:PUBM) Insider Sells $149,445.66 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,878 shares of PubMatic stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $149,445.66. Following the completion of the transaction, the insider directly owned 125,041 shares in the company, valued at $2,372,027.77. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $134,240.00.
• On Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The stock was sold at an average price of $17.05, for a total transaction of $136,400.00.

PubMatic Stock Up 1.2%

Shares of NASDAQ PUBM opened at $18.57 on Thursday. The firm’s fifty day moving average is $16.81 and its 200 day moving average is $12.94. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $19.48. The company has a market cap of $845.86 million, a price-to-earnings ratio of -61.90 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. Equities research analysts anticipate that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of PubMatic by 26.3% in the 1st 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 during the period. CenterBook Partners LP grew its stake in PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the period. S Squared Technology LLC raised its holdings in PubMatic by 7.7% in the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock worth $2,492,000 after purchasing an additional 20,000 shares in the last quarter. Pinnacle Holdings LLC bought a new position in PubMatic in the second quarter worth $2,076,000. Finally, Quantinno Capital Management LP lifted its position in PubMatic by 248.0% during the first 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 during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PUBM shares. Lake Street Capital restated a “buy” rating and set a $20.00 price target on shares of PubMatic in a report on Friday, August 7th. Citizens Jmp lifted their price objective on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 7th. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Jefferies Financial Group raised their price target on PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Finally, Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $8.00 to $21.00 in a research report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic News Summary

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Sony Pictures partnership expands connected-TV prospects: Sony Pictures Entertainment named PubMatic its preferred programmatic advertising partner for Live TV on PS5. The agreement could give PubMatic access to more gaming and entertainment ad inventory, increasing impressions, advertiser demand and future revenue opportunities. Sony Pictures Entertainment Names PubMatic Its Preferred Programmatic Advertising Partner
• Neutral Sentiment: Analyst support remains favorable: Analysts maintain a consensus “Moderate Buy” rating, with several firms assigning price targets above or around the current share price. This supports sentiment, but the stock’s proximity to its 12-month high may limit near-term upside. PubMatic Stock Rated Moderate Buy by Wall Street Brokerages
• Negative Sentiment: Several executives sold shares: CEO Rajeev Goel, CFO Steven Pantelick, Chairman Amar Goel, General Counsel Andrew Woods and insider Mukul Kumar disclosed sales totaling roughly 94,600 shares and about $1.8 million across recent transactions. Woods also sold 10,079 shares, while Pantelick sold more than 22,000 shares and Amar Goel sold more than 10,000. Most sales were executed under pre-arranged Rule 10b5-1 plans; one Woods transaction covered tax withholding. Those details reduce the bearish significance, but the sizable reductions in insider ownership could weigh on confidence and create additional share supply. PubMatic Insider Trading Alert

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.