Mukul Kumar Sells 8,000 Shares of PubMatic (NASDAQ:PUBM) Stock

Key Points

• Insider sale: Mukul Kumar sold 8,000 PubMatic shares for approximately $134,240 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 6.61% to 112,945 shares.
• Stock and earnings: PubMatic shares traded at $17.55, near their 52-week high of $19.19. The company exceeded quarterly EPS and revenue expectations, reporting adjusted EPS of -$0.03 and revenue of $78.59 million.
• Analyst sentiment: Wall Street maintains a “Moderate Buy” consensus, with 11 Buy, one Hold and one Sell rating and an average price target of $19.30.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of the company's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $16.78, for a total transaction of $134,240.00. Following the completion of the transaction, the insider owned 112,945 shares of the company's stock, valued at approximately $1,895,217.10. The trade was a 6.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $17.05, for a total transaction of $136,400.00.
• On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total transaction of $107,794.05.

PubMatic Stock Performance

NASDAQ PUBM traded up $0.22 during trading hours on Friday, hitting $17.55. The company had a trading volume of 1,151,211 shares, compared to its average volume of 685,584. The business has a 50 day moving average of $15.34 and a 200-day moving average of $11.95. The company has a market cap of $799.40 million, a PE ratio of -58.50 and a beta of 1.58. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $19.19.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to analysts' expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Sell-side analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PUBM has been the topic of a number of research reports. Wall Street Zen lowered shares of PubMatic from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Citizens Jmp increased their price target on shares of PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Raymond James Financial raised shares of PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Friday, August 7th. Rosenblatt Securities lifted their price objective on shares of PubMatic from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, B. Riley Financial upped their target price on shares of PubMatic from $17.00 to $21.00 and gave the company a "buy" rating in a report on Friday. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.30.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after purchasing an additional 321,200 shares in the last quarter. CenterBook Partners LP boosted its holdings in PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock valued at $10,174,000 after purchasing an additional 398,595 shares in the last quarter. S Squared Technology LLC increased its position in PubMatic by 7.7% during the 4th quarter. S Squared Technology LLC now owns 280,972 shares of the company's stock worth $2,492,000 after purchasing an additional 20,000 shares during the period. Quantinno Capital Management LP increased its position in PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock worth $1,692,000 after purchasing an additional 147,386 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PubMatic during the 1st quarter worth approximately $1,687,000. 64.26% of the stock is owned by institutional investors and hedge funds.

PubMatic Company Profile

PubMatic, Inc NASDAQ: PUBM operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company's solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.

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