Key Points
- PubMatic insider Mukul Kumar sold 8,000 shares at an average price of $17.12, worth $136,960. The transaction was made under a pre-arranged Rule 10b5-1 plan, leaving him with 117,041 shares.
- Kumar has also sold shares in three earlier transactions since August, totaling 23,878 shares, indicating a recurring pattern of insider selling.
- PubMatic reported quarterly revenue of $78.59 million and an EPS loss of $0.03, beating analyst estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $19.73, compared with the stock’s opening price of $17.01.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of the company's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $17.12, for a total value of $136,960.00. Following the transaction, the insider directly owned 117,041 shares in the company, valued at approximately $2,003,741.92. The trade was a 6.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 Friday, October 2nd, Mukul Kumar sold 7,878 shares of PubMatic stock. The shares were sold at an average price of $18.97, for a total value of $149,445.66.
- On Wednesday, September 16th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $16.78, for a total value of $134,240.00.
- 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.
PubMatic Price Performance
PubMatic stock opened at $17.01 on Tuesday. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $19.48. The business has a fifty day moving average price of $17.40 and a 200-day moving average price of $13.49. The stock has a market capitalization of $774.81 million, a price-to-earnings ratio of -56.70 and a beta of 1.56.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. On average, equities research analysts anticipate that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on PUBM shares. Wall Street Zen upgraded PubMatic from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Rosenblatt Securities increased their price objective on shares of PubMatic from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Lake Street Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of PubMatic in a research report on Friday, August 7th. Citigroup reiterated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. Finally, B. Riley Financial lifted their target price on shares of PubMatic from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Friday, September 18th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, PubMatic presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.73.
View Our Latest Analysis on PUBM
Hedge Funds Weigh In On PubMatic
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Pinnacle Holdings LLC acquired a new stake in PubMatic during the 2nd quarter worth about $2,076,000. Quantinno Capital Management LP grew its stake in PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock valued at $1,692,000 after purchasing an additional 147,386 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PubMatic during the 1st quarter valued at about $1,687,000. Finally, Bank of New York Mellon Corp purchased a new stake in PubMatic during the 2nd quarter valued at about $1,595,000. 64.26% of the stock is owned by institutional investors and hedge funds.
About PubMatic
(
Get Free Report)
PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.
The company's platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
