Key Points
- PubMatic insider Mukul Kumar sold 8,000 shares on June 2 at an average price of $11.96, totaling about $95,680. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Kumar still owned 100,869 shares valued at about $1.21 million, which represented a 7.35% decrease in his position. He had also sold 7,830 shares in an earlier April transaction.
- PubMatic recently beat earnings expectations, reporting EPS of -$0.27 versus the expected -$0.32 and revenue of $62.57 million versus $60.42 million expected. Analysts currently rate the stock a Moderate Buy with a consensus price target of $12.88.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of PubMatic stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00. Following the sale, the insider directly owned 100,869 shares of the company's stock, valued at $1,206,393.24. This represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mukul Kumar also recently made the following trade(s):
- On Thursday, April 2nd, Mukul Kumar sold 7,830 shares of PubMatic stock. The shares were sold at an average price of $8.17, for a total transaction of $63,971.10.
PubMatic Stock Performance
PubMatic stock opened at $11.38 on Thursday. The company has a 50 day moving average price of $9.61 and a 200-day moving average price of $8.66. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.88. The company has a market capitalization of $528.49 million, a PE ratio of -29.95 and a beta of 1.57.
PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. On average, analysts forecast that PubMatic, Inc. will post -0.25 earnings per share for the current year.
Institutional Investors Weigh In On PubMatic
Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Wellington Management Group LLP grew its holdings in PubMatic by 10.1% in the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company's stock worth $12,159,000 after purchasing an additional 135,070 shares during the last quarter. CenterBook Partners LP grew its holdings 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 last quarter. Jacobs Levy Equity Management Inc. grew its holdings in PubMatic by 9.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company's stock worth $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company's stock worth $8,144,000 after purchasing an additional 699,549 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on PUBM shares. Lake Street Capital raised shares of PubMatic from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. B. Riley Financial reissued a "buy" rating on shares of PubMatic in a report on Friday, May 8th. Weiss Ratings reissued a "sell (d)" rating on shares of PubMatic in a report on Tuesday, April 21st. Royal Bank Of Canada lifted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $21.00 price objective on shares of PubMatic in a report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.88.
View Our Latest Stock Report on PubMatic
PubMatic Company Profile
(
Get Free Report)
PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.
Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.
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