PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel Sells 4,446 Shares

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

PubMatic Stock Performance

Shares of PubMatic stock traded down $1.05 during trading on Thursday, reaching $8.37. The company had a trading volume of 755,957 shares, compared to its average volume of 444,993. PubMatic, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $25.36. The firm’s fifty day moving average is $12.58 and its 200-day moving average is $14.31. The company has a market cap of $406.17 million, a price-to-earnings ratio of 27.00 and a beta of 1.48.

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 the consensus estimate of $0.37 by ($0.11). The firm had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. On average, research analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of PubMatic

Several institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new position in shares of PubMatic in the 3rd quarter valued at about $170,000. Charles Schwab Investment Management Inc. lifted its holdings in PubMatic by 122.5% in the third 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 lifted its holdings in PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PubMatic by 37.9% in the third 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 period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 17.4% during 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 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.