Amar K. Goel Sells 4,417 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) Chairman Amar K. Goel sold 4,417 shares of PubMatic stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $55,477.52. Following the completion of the sale, the chairman directly owned 20,516 shares in the company, valued at approximately $257,680.96. The trade was a 17.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

PubMatic Stock Up 1.2%

PubMatic stock traded up $0.16 on Friday, hitting $12.83. The company's stock had a trading volume of 235,174 shares, compared to its average volume of 495,015. The firm has a market cap of $622.40 million, a P/E ratio of 160.33 and a beta of 1.54. The company has a fifty day moving average price of $11.35 and a 200-day moving average price of $12.06. PubMatic, Inc. has a one year low of $7.46 and a one year high of $22.99.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut their target price on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Lake Street Capital decreased their target price on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.11.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PUBM. Principal Financial Group Inc. boosted its position in shares of PubMatic by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock worth $370,000 after purchasing an additional 2,234 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of PubMatic during the fourth quarter worth $27,000. AlphaQuest LLC boosted its position in shares of PubMatic by 64.9% during the fourth quarter. AlphaQuest LLC now owns 66,863 shares of the company's stock worth $982,000 after purchasing an additional 26,324 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PubMatic during the fourth quarter worth $1,216,000. Finally, Magnetar Financial LLC bought a new position in shares of PubMatic during the fourth quarter worth $422,000. Institutional investors own 64.26% of the company's stock.

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.