PubMatic (NASDAQ:PUBM) Chairman Sells $138,518.94 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 7,302 shares of PubMatic stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $18.97, for a total transaction of $138,518.94. Following the completion of the transaction, the chairman owned 46,375 shares in the company, valued at approximately $879,733.75. This represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Price Performance

Shares of NASDAQ:PUBM traded up $0.18 on Monday, reaching $18.60. The company’s stock had a trading volume of 646,336 shares, compared to its average volume of 693,762. PubMatic, Inc. has a 52-week low of $6.15 and a 52-week high of $19.48. The stock has a market capitalization of $847.23 million, a P/E ratio of -62.00 and a beta of 1.56. The stock’s 50-day moving average is $16.48 and its two-hundred day moving average is $12.72.

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

Institutional Trading of PubMatic

A number of institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd increased its stake in PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares in the last quarter. Squarepoint Ops LLC boosted its position in PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock worth $815,000 after purchasing an additional 39,023 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in PubMatic during the second quarter worth $872,000. Pinnacle Holdings LLC acquired a new stake in PubMatic in the second quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp acquired a new stake in PubMatic in the second quarter valued at $1,595,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Craig Hallum started coverage on PubMatic in a research note on Thursday, September 24th. They issued a “buy” rating and a $24.00 target price on the stock. Citigroup restated an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Lake Street Capital reiterated a “buy” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Friday, August 7th. Finally, Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.