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

Key Points

• PubMatic insider Mukul Kumar sold 8,000 shares at an average price of $17.12, generating $136,960. The transaction reduced his direct holdings by 6.4% to 117,041 shares and was conducted under a pre-arranged Rule 10b5-1 plan.
• PubMatic shares rose 2.2% to $17.01, with the stock trading between a one-year low of $6.15 and high of $19.48. The company recently exceeded quarterly earnings and revenue expectations, though it remains unprofitable.
• Analyst sentiment is generally positive: 11 analysts rate the stock Buy, one rates it Hold, and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $19.73.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $17.12, for a total transaction of $136,960.00. Following the sale, the insider directly owned 117,041 shares of the company's stock, valued at $2,003,741.92. The trade was a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Friday, October 2nd, Mukul Kumar sold 7,878 shares of PubMatic stock. The stock was sold at an average price of $18.97, for a total transaction of $149,445.66.
• On Wednesday, September 16th, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $16.78, for a total transaction of $134,240.00.
• 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.

PubMatic Stock Up 2.2%

Shares of NASDAQ:PUBM traded up $0.37 during midday trading on Monday, hitting $17.01. 466,877 shares of the stock traded hands, compared to its average volume of 690,626. The stock has a market capitalization of $774.81 million, a PE ratio of -56.70 and a beta of 1.56. The business's 50 day moving average is $17.41 and its two-hundred day moving average is $13.43. PubMatic, Inc. has a one year low of $6.15 and a one year high of $19.48.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PUBM. Lake Street Capital restated a "buy" rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Jefferies Financial Group raised their price target on PubMatic from $10.00 to $18.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of PubMatic from a "sell (d)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of PubMatic from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Finally, Citizens Jmp boosted their price objective on shares of PubMatic from $12.00 to $20.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, PubMatic currently has an average rating of "Moderate Buy" and an average price target of $19.73.

Institutional Trading of PubMatic

Several large investors have recently bought and sold shares of PUBM. Quantinno Capital Management LP boosted its holdings in shares of PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock valued at $1,692,000 after buying an additional 147,386 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of PubMatic in the 2nd quarter worth about $872,000. Renaissance Technologies LLC grew its position in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after buying an additional 321,200 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of PubMatic in the 2nd quarter worth about $1,595,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of PubMatic in the 1st quarter worth about $1,687,000. 64.26% of the stock is owned by institutional investors.

About PubMatic

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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