Insider Selling: PubMatic (NASDAQ:PUBM) Chairman Sells $201,434.70 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 10,795 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $18.66, for a total value of $201,434.70. Following the completion of the sale, the chairman owned 35,580 shares in the company, valued at $663,922.80. This trade represents a 23.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Price Performance

PubMatic stock opened at $18.68 on Friday. The firm has a market capitalization of $850.87 million, a P/E ratio of -62.26 and a beta of 1.56. The stock has a fifty day moving average price of $16.93 and a two-hundred day moving average price of $13.01. PubMatic, Inc. has a 52-week low of $6.15 and a 52-week high of $19.48.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, equities research analysts predict that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Craig Hallum started coverage on shares of PubMatic in a report on Thursday, September 24th. They set a “buy” rating and a $24.00 price objective for the company. Rosenblatt Securities boosted their target price on PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Jefferies Financial Group raised their price target on PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. B. Riley Financial lifted their price objective on PubMatic from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Finally, Citigroup restated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. 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 stock. According to data from MarketBeat.com, PubMatic has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

Institutional Trading of PubMatic

Several hedge funds have recently modified their holdings of the stock. CenterBook Partners LP increased its holdings in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 321,200 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PubMatic during the 1st quarter worth $1,687,000. Pinnacle Holdings LLC bought a new position in PubMatic in the 2nd quarter valued at $2,076,000. Finally, Quantinno Capital Management LP boosted its position in PubMatic by 248.0% in the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after buying an additional 147,386 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

About PubMatic

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.