Amar K. Goel Sells 3,889 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 3,889 shares of PubMatic stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $55,651.59. Following the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PubMatic Price Performance

Shares of NASDAQ PUBM opened at $14.77 on Friday. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36. The business’s 50 day moving average is $15.86 and its two-hundred day moving average is $19.95. The stock has a market capitalization of $737.48 million, a P/E ratio of 70.33 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. As a group, equities research analysts anticipate that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently made changes to their positions in PUBM. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic during the 2nd quarter worth about $29,000. Headlands Technologies LLC purchased a new position in shares of PubMatic during the second quarter valued at approximately $38,000. SG Americas Securities LLC bought a new position in shares of PubMatic during the first quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after acquiring an additional 3,280 shares during the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of PubMatic during the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. B. Riley reduced their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wolfe Research started coverage on shares of PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Jefferies Financial Group cut their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Macquarie decreased their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.