Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells 4,446 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,446 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $41,392.26. Following the transaction, the chairman now directly owns 18,401 shares in the company, valued at $171,313.31. This represents a 19.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Performance

Shares of PUBM opened at $8.25 on Friday. The business’s 50-day moving average is $12.44 and its two-hundred day moving average is $14.27. The company has a market capitalization of $400.35 million, a P/E ratio of 26.61 and a beta of 1.50. PubMatic, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. Analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Lake Street Capital dropped their target price on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Finally, Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Hedge Funds Weigh In On PubMatic

Several large investors have recently made changes to their positions in PUBM. SBI Securities Co. Ltd. acquired a new stake in PubMatic during the fourth quarter valued at $27,000. Wellington Management Group LLP boosted its stake in shares of PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares in the last quarter. Nordea Investment Management AB grew its position in shares of PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after acquiring an additional 269,217 shares during the period. JPMorgan Chase & Co. grew its position in shares of PubMatic by 239.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after acquiring an additional 43,971 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after purchasing an additional 239,406 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About PubMatic

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.