Mukul Kumar Sells 8,000 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00. Following the transaction, the insider owned 100,869 shares in the company, valued at $1,206,393.24. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mukul Kumar also recently made the following trade(s):

• On Thursday, April 2nd, Mukul Kumar sold 7,830 shares of PubMatic stock. The stock was sold at an average price of $8.17, for a total transaction of $63,971.10.

PubMatic Stock Performance

PubMatic stock opened at $11.88 on Friday. The firm has a market cap of $551.71 million, a price-to-earnings ratio of -31.26 and a beta of 1.57. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.88. The firm’s 50 day moving average price is $9.69 and its two-hundred day moving average price is $8.68.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. As a group, equities analysts predict that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PUBM. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PUBM. Quarry LP bought a new stake in PubMatic in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its stake in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after acquiring an additional 1,915 shares during the period. State of Wyoming bought a new stake in PubMatic in the first quarter valued at about $61,000. Tower Research Capital LLC TRC increased its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after acquiring an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after acquiring an additional 4,856 shares during the period. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.