Mukul Kumar Sells 5,401 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 5,401 shares of PubMatic stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $50,283.31. Following the completion of the transaction, the insider now directly owns 60,465 shares of the company’s stock, valued at $562,929.15. This trade represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mukul Kumar also recently made the following trade(s):

• On Monday, February 10th, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00.

PubMatic Trading Down 1.4 %

PubMatic stock opened at $8.25 on Friday. PubMatic, Inc. has a 52 week low of $7.90 and a 52 week high of $25.36. The stock has a market cap of $400.35 million, a price-to-earnings ratio of 26.61 and a beta of 1.50. The company’s 50-day moving average price is $12.44 and its two-hundred day moving average price is $14.27.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. Research analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic during the 4th quarter valued at $27,000. Cubist Systematic Strategies LLC purchased a new stake in shares of PubMatic during the fourth quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic in the 4th quarter valued at $57,000. FMR LLC increased its stake in PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock worth $77,000 after buying an additional 2,240 shares during the period. Institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PUBM. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Lake Street Capital lowered their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada cut their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Finally, Scotiabank lowered their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

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.