Key Points
- PubMatic insider Mukul Kumar sold 8,000 shares at an average price of $16.78, generating $134,240. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving Kumar with 112,945 shares.
- PubMatic reported quarterly revenue of $78.59 million and an EPS loss of $0.03, beating analyst estimates for both revenue and earnings. The stock opened at $17.55 and has traded between $6.15 and $19.19 over the past year.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $19.30; institutional investors and hedge funds own 64.26% of the company.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $16.78, for a total value of $134,240.00. Following the completion of the sale, the insider directly owned 112,945 shares of the company's stock, valued at $1,895,217.10. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mukul Kumar also recently made the following trade(s):
- 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 value of $136,400.00.
- On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total value of $107,794.05.
PubMatic Stock Performance
NASDAQ:PUBM opened at $17.55 on Friday. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $19.19. The stock has a fifty day moving average price of $15.42 and a two-hundred day moving average price of $11.99. The stock has a market capitalization of $799.40 million, a price-to-earnings ratio of -58.50 and a beta of 1.58.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, analysts predict that PubMatic, Inc. will post -0.09 EPS for the current year.
Institutional Trading of PubMatic
Large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of PubMatic by 26.3% during the 1st 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. CenterBook Partners LP grew its holdings in PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock valued at $10,174,000 after buying an additional 398,595 shares during the last quarter. S Squared Technology LLC increased its position in PubMatic by 7.7% during the fourth quarter. S Squared Technology LLC now owns 280,972 shares of the company's stock worth $2,492,000 after buying an additional 20,000 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock worth $1,692,000 after acquiring an additional 147,386 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of PubMatic in the first quarter valued at $1,687,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PUBM. Evercore reissued an "outperform" rating and set a $21.00 price target on shares of PubMatic in a research note on Monday, August 10th. Citizens Jmp lifted their price objective on PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday, August 7th. Scotiabank upgraded PubMatic from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $8.00 to $21.00 in a research report on Friday, August 7th. Lake Street Capital reissued a "buy" rating and issued a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Finally, Raymond James Financial upgraded PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, PubMatic currently has a consensus rating of "Moderate Buy" and an average target price of $19.30.
Read Our Latest Analysis on PUBM
About PubMatic
(
Get Free Report)
PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.
The company's solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.
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