PubMatic (NASDAQ:PUBM) Insider Sells $107,794.05 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,897 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $107,794.05. Following the completion of the sale, the insider directly owned 112,945 shares in the company, valued at approximately $1,541,699.25. This represents a 6.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The stock was sold at an average price of $11.96, for a total transaction of $95,680.00.

PubMatic Stock Down 0.2%

NASDAQ:PUBM traded down $0.03 during mid-day trading on Monday, hitting $13.52. 433,149 shares of the stock traded hands, compared to its average volume of 704,710. The stock has a market capitalization of $627.91 million, a price-to-earnings ratio of -35.58 and a beta of 1.51. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $13.99. The firm’s 50 day moving average is $11.04 and its two-hundred day moving average is $9.11.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data 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 business had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. As a group, research analysts predict that PubMatic, Inc. will post -0.26 EPS for the current year.

Institutional Trading of PubMatic

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its holdings in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares during the last quarter. Simcoe Capital LLC purchased a new stake in shares of PubMatic during the 4th quarter valued at $3,625,000. CenterBook Partners LP boosted its position in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares in the last quarter. Renaissance Technologies LLC grew its stake in PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares during the last quarter. Finally, UBS Group AG grew its stake in PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after buying an additional 303,479 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PUBM. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Royal Bank Of Canada boosted their target price 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.88.

About PubMatic

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.