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

Key Points

• PubMatic insider Mukul Kumar sold 8,000 shares at an average price of $17.05, generating $136,400. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 6.61% to 112,945 shares.
• PubMatic shares rose 0.5% to $17.36 and recently reported better-than-expected quarterly results, with revenue of $78.59 million and an adjusted loss of $0.03 per share versus the $0.18 loss analysts expected.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $18.25; institutional investors and hedge funds own 64.26% of the company.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 8,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $17.05, for a total value of $136,400.00. Following the transaction, the insider owned 112,945 shares of the company's stock, valued at $1,925,712.25. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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.
• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The stock was sold at an average price of $11.96, for a total transaction of $95,680.00.

PubMatic Stock Up 0.5%

NASDAQ PUBM traded up $0.09 during trading on Tuesday, reaching $17.36. 920,949 shares of the stock traded hands, compared to its average volume of 694,763. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $18.44. The firm has a market cap of $790.75 million, a price-to-earnings ratio of -57.86 and a beta of 1.54. The stock's 50-day moving average price is $13.33 and its 200 day moving average price is $10.35.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. Analysts anticipate that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PUBM shares. Raymond James Financial raised PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Friday, August 7th. Lake Street Capital reissued a "buy" rating and set a $20.00 target price on shares of PubMatic in a research note on Friday, August 7th. Jefferies Financial Group raised their target price on shares of PubMatic from $10.00 to $18.00 and gave the stock a "hold" 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 note on Saturday, August 8th. Finally, Citizens Jmp upped their price target on shares of PubMatic from $12.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.25.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of PubMatic during the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its position in PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock valued at $39,000 after purchasing an additional 1,915 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company's stock valued at $61,000 after purchasing an additional 3,541 shares in the last quarter. State of Wyoming bought a new position in PubMatic in the first quarter valued at approximately $61,000. Finally, BNP Paribas Financial Markets increased its position in shares of PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company's stock worth $73,000 after purchasing an additional 4,856 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq symbol: PUBM in December 2020.

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