Insider Selling: PubMatic (NASDAQ:PUBM) Insider Sells $95,680.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 100,869 shares in the company, valued at $1,206,393.24. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $8.17, for a total transaction of $63,971.10.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $11.54 on Friday. The stock has a market cap of $535.92 million, a P/E ratio of -30.37 and a beta of 1.57. The firm has a fifty day moving average price of $9.75 and a 200 day moving average price of $8.70. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $13.88.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The firm had revenue of $62.57 million during the quarter, compared to analysts’ expectations of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Sell-side analysts expect that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

Institutional Trading of PubMatic

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in shares of 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 period. Wellington Management Group LLP lifted its stake in shares of PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after acquiring an additional 135,070 shares during the period. CenterBook Partners LP lifted its stake in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after acquiring an additional 77,566 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after acquiring an additional 699,549 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Royal Bank Of Canada increased their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.88.

About PubMatic

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.