PubMatic (NASDAQ:PUBM) General Counsel Sells $108,963.68 in Stock

Key Points

• PubMatic General Counsel Andrew Woods sold 5,744 shares for approximately $108,964 at an average price of $18.97. The filing said the sale covered tax-withholding obligations tied to vested equity awards, leaving him with 49,840 shares.
• PubMatic shares rose 1.0% to $18.60, near the company’s 52-week high of $19.48. The stock has a market capitalization of roughly $847 million.
• The company’s latest quarterly results exceeded expectations, with revenue of $78.59 million and an adjusted loss of $0.03 per share versus analysts’ forecast of a $0.18 loss. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $19.73.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 5,744 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $108,963.68. Following the sale, the general counsel directly owned 49,840 shares of the company's stock, valued at $945,464.80. The trade was a 10.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Woods also recently made the following trade(s):

• On Monday, August 10th, Andrew Woods sold 38,331 shares of PubMatic stock. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76.

PubMatic Trading Up 1.0%

NASDAQ PUBM traded up $0.18 during trading hours on Monday, reaching $18.60. The company had a trading volume of 646,336 shares, compared to its average volume of 693,762. The stock has a 50-day moving average of $16.48 and a 200 day moving average of $12.72. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $19.48. The stock has a market capitalization of $847.23 million, a P/E ratio of -62.00 and a beta of 1.56.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PUBM. Weiss Ratings lowered PubMatic from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Citigroup restated an "outperform" rating on shares of PubMatic in a research report on Friday, August 7th. Raymond James Financial raised PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research note on Friday, August 7th. B. Riley Financial boosted their price objective on PubMatic from $17.00 to $21.00 and gave the company a "buy" rating in a report on Friday, September 18th. Finally, Evercore reissued an "outperform" rating and set a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PubMatic has a consensus rating of "Moderate Buy" and a consensus target price of $19.73.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently added to or reduced their stakes in PUBM. WINTON GROUP Ltd boosted its position in PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company's stock valued at $222,000 after buying an additional 3,700 shares during the period. Squarepoint Ops LLC increased its position in shares of PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company's stock worth $815,000 after acquiring an additional 39,023 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of PubMatic during the second quarter worth $872,000. Pinnacle Holdings LLC acquired a new stake in shares of PubMatic in the second quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of PubMatic in the second quarter valued at $1,595,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company's platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.

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