PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $53,900.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 2,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $24.50, for a total value of $53,900.00. Following the transaction, the chairman now owns 2,640 shares in the company, valued at approximately $64,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Amar K. Goel also recently made the following trade(s):

• On Tuesday, March 5th, Amar K. Goel sold 3,454 shares of PubMatic stock. The stock was sold at an average price of $20.69, for a total transaction of $71,463.26.

PubMatic Trading Down 0.5 %

NASDAQ:PUBM traded down $0.11 during mid-day trading on Thursday, hitting $22.47. The stock had a trading volume of 507,305 shares, compared to its average volume of 465,549. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36. The company has a market capitalization of $1.12 billion, a PE ratio of 150.54 and a beta of 1.52. The stock has a 50-day simple moving average of $22.67 and a two-hundred day simple moving average of $17.99.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. PubMatic’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Sell-side analysts predict that PubMatic, Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently added to or reduced their stakes in PUBM. Wellington Management Group LLP purchased a new position in shares of PubMatic in the 3rd quarter valued at $3,701,000. Aptus Capital Advisors LLC purchased a new stake in shares of PubMatic during the 3rd quarter worth approximately $1,350,000. Guinness Atkinson Asset Management Inc increased its stake in PubMatic by 48.6% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PubMatic by 8.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock valued at $7,113,000 after buying an additional 35,286 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of PubMatic during the 3rd quarter worth $154,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on PUBM shares. B. Riley initiated coverage on PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada increased their price target on shares of PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, JMP Securities lifted their price objective on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

PubMatic Company Profile

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.