PubMatic (NASDAQ:PUBM) General Counsel Sells $187,973.35 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 10,079 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $18.65, for a total transaction of $187,973.35. Following the sale, the general counsel owned 39,761 shares in the company, valued at $741,542.65. This trade represents a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Woods also recently made the following trade(s):

• On Friday, October 2nd, Andrew Woods sold 5,744 shares of PubMatic stock. The shares were sold at an average price of $18.97, for a total transaction of $108,963.68.
• On Monday, August 10th, Andrew Woods sold 38,331 shares of PubMatic stock. The stock was sold at an average price of $17.96, for a total transaction of $688,424.76.

PubMatic Stock Up 0.6%

Shares of NASDAQ:PUBM opened at $18.68 on Friday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $19.48. The company’s fifty day simple moving average is $16.93 and its 200 day simple moving average is $13.01. The firm has a market cap of $850.87 million, a price-to-earnings ratio of -62.26 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The firm had revenue of $78.59 million during 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%. Research analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd boosted its holdings in shares of PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after buying an additional 3,700 shares during the last quarter. Squarepoint Ops LLC raised its position in PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock worth $815,000 after acquiring an additional 39,023 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in PubMatic during the second quarter worth $872,000. Pinnacle Holdings LLC acquired a new stake in PubMatic in the second quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp acquired a new stake in PubMatic in the second quarter valued at $1,595,000. Institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PUBM. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Friday, August 7th. Lake Street Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of PubMatic in a research report on Friday, August 7th. Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Weiss Ratings downgraded shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Evercore restated an “outperform” rating and set a $21.00 target price on shares of PubMatic in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.