Andrew Woods Sells 4,111 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 4,111 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the sale, the general counsel now directly owns 39,509 shares of the company’s stock, valued at $367,828.79. The trade was a 9.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PubMatic Trading Down 1.4 %

NASDAQ:PUBM opened at $8.25 on Friday. The stock has a 50-day moving average price of $12.44 and a 200 day moving average price of $14.27. The stock has a market capitalization of $400.35 million, a P/E ratio of 26.61 and a beta of 1.50. PubMatic, Inc. has a 12-month low of $7.90 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The company had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $88.24 million. On average, research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of PubMatic

Several hedge funds have recently bought and sold shares of PUBM. Intech Investment Management LLC bought a new stake in shares of PubMatic in the third quarter worth about $170,000. Charles Schwab Investment Management Inc. increased its stake in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares during the last quarter. FMR LLC raised its holdings in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PubMatic by 37.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after acquiring an additional 3,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 17.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after purchasing an additional 100,479 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank cut their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Lake Street Capital reduced their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.89.

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.