Mukul Kumar Sells 7,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.64, for a total transaction of $151,480.00. Following the completion of the sale, the insider now owns 30,958 shares in the company, valued at $669,931.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

PubMatic Stock Down 0.1 %

PubMatic stock opened at $21.54 on Friday. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $24.18. The firm has a market cap of $1.08 billion, a PE ratio of 143.61 and a beta of 1.52. The company’s 50 day moving average is $20.93 and its two-hundred day moving average is $16.90.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.15. The business had revenue of $84.60 million for the quarter, compared to analyst estimates of $78.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts anticipate that PubMatic, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently bought and sold shares of PUBM. Jasper Ridge Partners L.P. increased its stake in shares of PubMatic by 3.6% during the first quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company’s stock worth $393,000 after buying an additional 524 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of PubMatic by 4.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,750 shares of the company’s stock valued at $339,000 after purchasing an additional 808 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of PubMatic by 7.6% during the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company’s stock worth $184,000 after purchasing an additional 819 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of PubMatic by 3.4% during the first quarter. Snowden Capital Advisors LLC now owns 26,002 shares of the company’s stock worth $359,000 after purchasing an additional 850 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in PubMatic by 9.0% in the fourth quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock valued at $194,000 after buying an additional 984 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PUBM. JMP Securities boosted their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 27th. B. Riley boosted their target price on PubMatic from $21.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of PubMatic in a research report on Monday, March 25th. Two investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

About PubMatic

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.