Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells 4,446 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) Chairman Amar K. Goel sold 4,446 shares of PubMatic stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $41,392.26. Following the completion of the transaction, the chairman now directly owns 18,401 shares in the company, valued at $171,313.31. This trade represents a 19.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Performance

Shares of NASDAQ:PUBM traded down $0.10 during mid-day trading on Tuesday, reaching $7.78. 121,025 shares of the company's stock were exchanged, compared to its average volume of 447,379. PubMatic, Inc. has a twelve month low of $7.46 and a twelve month high of $25.36. The firm has a market capitalization of $377.54 million, a price-to-earnings ratio of 25.02 and a beta of 1.50. The business's fifty day moving average price is $12.30 and its 200-day moving average price is $14.22.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate 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 return on equity of 6.12% and a net margin of 5.96%. Analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Trading of PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of PubMatic by 23,208.3% in the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock valued at $26,000 after purchasing an additional 2,785 shares during the last quarter. Wellington Management Group LLP grew its holdings in PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock worth $13,191,000 after acquiring an additional 145,641 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PubMatic by 17.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,246 shares of the company's stock worth $1,384,000 after acquiring an additional 13,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic in the 4th quarter valued at about $57,000. Finally, ProShare Advisors LLC acquired a new stake in PubMatic during the fourth quarter worth approximately $173,000. Institutional investors and hedge funds own 64.26% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PUBM. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday, January 3rd. JMP Securities reissued a "market outperform" rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Scotiabank decreased their target price on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Finally, Lake Street Capital dropped their price target on PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.