PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,000 Shares

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $21.64, for a total transaction of $151,480.00. Following the transaction, the insider now directly owns 30,958 shares in the company, valued at $669,931.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PubMatic Stock Performance

PUBM traded down $0.16 during trading on Wednesday, hitting $21.57. The stock had a trading volume of 254,499 shares, compared to its average volume of 488,218. The company has a market capitalization of $1.08 billion, a PE ratio of 143.80 and a beta of 1.52. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $24.18. The stock has a 50 day simple moving average of $20.81 and a two-hundred day simple moving average of $16.86.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.15. The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $78.19 million. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. PubMatic's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. On average, equities research analysts anticipate that PubMatic, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 target price on shares of PubMatic in a research report on Monday, March 25th. B. Riley increased their price objective on shares of PubMatic from $21.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, JMP Securities increased their price objective on shares of PubMatic from $18.00 to $25.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.20.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of PubMatic by 0.7% in the third quarter. Vanguard Group Inc. now owns 4,319,892 shares of the company's stock worth $71,840,000 after buying an additional 29,696 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PubMatic by 19.8% in the second quarter. BlackRock Inc. now owns 3,311,217 shares of the company's stock worth $60,529,000 after buying an additional 546,233 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PubMatic by 17.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company's stock worth $25,366,000 after buying an additional 228,190 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of PubMatic by 8.0% in the first quarter. Royal Bank of Canada now owns 1,181,482 shares of the company's stock worth $30,860,000 after buying an additional 87,549 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of PubMatic by 1.3% in the second quarter. State Street Corp now owns 902,872 shares of the company's stock worth $16,504,000 after buying an additional 11,564 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Company Profile

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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