Mukul Kumar Sells 8,000 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $16.78, for a total value of $134,240.00. Following the completion of the transaction, the insider owned 112,945 shares of the company’s stock, valued at $1,895,217.10. The trade was a 6.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were 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 transaction of $107,794.05.

PubMatic Trading Up 1.3%

Shares of NASDAQ:PUBM traded up $0.22 on Friday, reaching $17.55. 1,151,211 shares of the company were exchanged, compared to its average volume of 685,584. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $19.19. The firm has a market cap of $799.40 million, a price-to-earnings ratio of -58.50 and a beta of 1.58. The company has a 50-day moving average of $15.34 and a 200-day moving average of $11.95.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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 net margin of 4.66% and a negative return on equity of 5.41%. As a group, analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds 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 increased its position in PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after buying an additional 147,386 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of PubMatic in the first quarter worth $1,687,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PUBM shares. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Friday, August 7th. Citigroup reissued an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. B. Riley Financial raised their price target on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Evercore reiterated an “outperform” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

PubMatic Company Profile

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.