Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) General Counsel Sells 4,084 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 4,084 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $12.56, for a total value of $51,295.04. Following the transaction, the general counsel directly owned 44,130 shares in the company, valued at approximately $554,272.80. This represents a 8.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

PubMatic Stock Performance

PUBM traded up $0.16 during midday trading on Thursday, reaching $12.83. 235,174 shares of the company were exchanged, compared to its average volume of 494,575. The stock's 50-day simple moving average is $11.24 and its 200 day simple moving average is $12.16. PubMatic, Inc. has a one year low of $7.46 and a one year high of $22.99. The stock has a market capitalization of $622.40 million, a P/E ratio of 158.38 and a beta of 1.54.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). The business had revenue of $63.83 million during the quarter, compared to analyst estimates of $62.07 million. PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The firm's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, research analysts anticipate that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On PubMatic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Graham Holdings Co lifted its position in PubMatic by 21.4% during the 1st quarter. Graham Holdings Co now owns 2,831,462 shares of the company's stock worth $25,880,000 after buying an additional 500,000 shares in the last quarter. Nuveen LLC acquired a new stake in PubMatic in the 1st quarter worth about $3,963,000. Acadian Asset Management LLC boosted its stake in shares of PubMatic by 483.6% in the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company's stock valued at $4,174,000 after buying an additional 378,714 shares during the period. Pacer Advisors Inc. bought a new position in shares of PubMatic in the first quarter worth $2,455,000. Finally, Wellington Management Group LLP increased its holdings in PubMatic by 20.0% in the 1st quarter. Wellington Management Group LLP now owns 1,077,921 shares of the company's stock valued at $9,852,000 after buying an additional 179,951 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several research reports. Lake Street Capital cut their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada cut their target price on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and an average price target of $19.11.

About PubMatic

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.

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