PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $41,392.26 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,446 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $9.31, for a total value of $41,392.26. Following the completion of the sale, the chairman now owns 18,401 shares of the company’s stock, valued at $171,313.31. This trade represents a 19.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Stock Performance

PUBM opened at $8.25 on Friday. The stock has a market capitalization of $400.35 million, a price-to-earnings ratio of 26.61 and a beta of 1.50. The company has a fifty day moving average of $12.44 and a 200 day moving average of $14.27. PubMatic, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $25.36.

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

Analyst Ratings Changes

PUBM has been the topic of several recent research reports. Lake Street Capital decreased their price objective on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Scotiabank decreased their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada dropped their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $20.00 price objective 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.89.

Institutional Trading of PubMatic

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Avestar Capital LLC purchased a new position in shares of PubMatic in the 4th quarter worth $4,701,000. Nordea Investment Management AB increased its holdings in shares of PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after buying an additional 269,217 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of PubMatic by 263.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock valued at $3,325,000 after acquiring an additional 163,979 shares during the last quarter. 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.