Insider Selling: PubMatic (NASDAQ:PUBM) General Counsel Sells $108,963.68 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 5,744 shares of PubMatic stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $108,963.68. Following the completion of the transaction, the general counsel directly owned 49,840 shares of the company’s stock, valued at $945,464.80. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Woods also recently made the following trade(s):

• On Monday, October 5th, Andrew Woods sold 10,079 shares of PubMatic stock. The stock was sold at an average price of $18.65, for a total value of $187,973.35.
• On Monday, August 10th, Andrew Woods sold 38,331 shares of PubMatic stock. The stock was sold at an average price of $17.96, for a total value of $688,424.76.

PubMatic Price Performance

Shares of PUBM stock opened at $18.57 on Thursday. The company has a market cap of $845.86 million, a PE ratio of -61.90 and a beta of 1.56. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $19.48. The stock’s 50 day simple moving average is $16.81 and its two-hundred day simple moving average is $12.94.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The firm had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Equities research analysts expect that PubMatic, Inc. will post -0.09 EPS for the current year.

PubMatic News Summary

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Sony Pictures partnership expands connected-TV prospects: Sony Pictures Entertainment named PubMatic its preferred programmatic advertising partner for Live TV on PS5. The agreement could give PubMatic access to more gaming and entertainment ad inventory, increasing impressions, advertiser demand and future revenue opportunities. Sony Pictures Entertainment Names PubMatic Its Preferred Programmatic Advertising Partner
• Neutral Sentiment: Analyst support remains favorable: Analysts maintain a consensus “Moderate Buy” rating, with several firms assigning price targets above or around the current share price. This supports sentiment, but the stock’s proximity to its 12-month high may limit near-term upside. PubMatic Stock Rated Moderate Buy by Wall Street Brokerages
• Negative Sentiment: Several executives sold shares: CEO Rajeev Goel, CFO Steven Pantelick, Chairman Amar Goel, General Counsel Andrew Woods and insider Mukul Kumar disclosed sales totaling roughly 94,600 shares and about $1.8 million across recent transactions. Woods also sold 10,079 shares, while Pantelick sold more than 22,000 shares and Amar Goel sold more than 10,000. Most sales were executed under pre-arranged Rule 10b5-1 plans; one Woods transaction covered tax withholding. Those details reduce the bearish significance, but the sizable reductions in insider ownership could weigh on confidence and create additional share supply. PubMatic Insider Trading Alert

Institutional Trading of PubMatic

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its holdings in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming bought a new stake in shares of PubMatic in the 1st quarter valued at about $61,000. Savant Capital LLC bought a new stake in shares of PubMatic in the 4th quarter valued at about $110,000. Sei Investments Co. purchased a new stake in shares of PubMatic in the 1st quarter worth approximately $129,000. Finally, Versant Capital Management Inc lifted its position in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after purchasing an additional 2,482 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PUBM shares. Rosenblatt Securities boosted 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. Craig Hallum assumed coverage on shares of PubMatic in a report on Thursday, September 24th. They set a “buy” rating and a $24.00 price target on the stock. Lake Street Capital reissued a “buy” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Friday, August 7th. Citizens Jmp raised their price objective on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Finally, Evercore restated an “outperform” rating and set a $21.00 price objective on shares of PubMatic in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Company Profile

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.