Amar K. Goel Sells 3,889 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBMGet Free Report) Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares in the company, valued at $113,549.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

PubMatic Trading Up 2.9 %

Shares of PUBM opened at $14.77 on Friday. The firm has a market cap of $737.48 million, a PE ratio of 70.33 and a beta of 1.39. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a fifty day simple moving average of $15.86 and a two-hundred day simple moving average of $19.95.

PubMatic (NASDAQ:PUBMGet Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $67.27 million for the quarter, compared to the consensus estimate of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. PubMatic’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. As a group, research analysts forecast that PubMatic, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of analyst reports. B. Riley dropped their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group reduced their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Macquarie lowered their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reduced their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.00.

View Our Latest Stock Analysis on PubMatic

Hedge Funds Weigh In On PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the business. Redwood Wealth Management Group LLC bought a new position in PubMatic in the second quarter worth approximately $29,000. Price T Rowe Associates Inc. MD raised its holdings in PubMatic by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock worth $530,000 after purchasing an additional 1,561 shares during the period. Empowered Funds LLC raised its holdings in PubMatic by 9.1% in the 1st quarter. Empowered Funds LLC now owns 19,606 shares of the company’s stock worth $465,000 after purchasing an additional 1,632 shares during the period. Versor Investments LP lifted its position in PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in PubMatic during the second quarter valued at about $38,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

(Get Free Report)

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.

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Insider Buying and Selling by Quarter for PubMatic (NASDAQ:PUBM)

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