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

PubMatic, Inc. (NASDAQ:PUBM) 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:PUBM) 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.

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

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.