Amar K. Goel Sells 3,755 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,755 shares of PubMatic stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total transaction of $77,503.20. Following the completion of the sale, the chairman now owns 5,242 shares of the company’s stock, valued at approximately $108,194.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

PubMatic Stock Performance

PubMatic stock opened at $20.67 on Friday. The company has a 50-day simple moving average of $21.93 and a 200-day simple moving average of $19.90. The firm has a market capitalization of $1.03 billion, a P/E ratio of 98.43 and a beta of 1.44. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $66.70 million during the quarter, compared to analyst estimates of $62.19 million. PubMatic had a net margin of 4.42% and a return on equity of 4.21%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, sell-side analysts forecast that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PUBM. Royal Bank of Canada boosted their target price on shares of PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. B. Riley began coverage on shares of PubMatic in a research note on Friday, April 19th. They set a “buy” rating and a $27.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in PubMatic in the third quarter worth about $3,701,000. Dimensional Fund Advisors LP lifted its holdings in PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in PubMatic by 92.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in PubMatic in the first quarter worth about $4,711,000. Finally, Russell Investments Group Ltd. lifted its holdings in PubMatic by 1,073.9% in the first quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock worth $2,990,000 after purchasing an additional 115,300 shares during the period. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.