Amar K. Goel Sells 2,200 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $24.50, for a total value of $53,900.00. Following the sale, the chairman now owns 2,640 shares in the company, valued at approximately $64,680. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Amar K. Goel also recently made the following trade(s):

• On Tuesday, March 5th, Amar K. Goel sold 3,454 shares of PubMatic stock. The shares were sold at an average price of $20.69, for a total value of $71,463.26.

PubMatic Price Performance

NASDAQ:PUBM traded down $0.11 during trading hours on Thursday, hitting $22.47. The company’s stock had a trading volume of 507,305 shares, compared to its average volume of 465,549. The stock has a fifty day simple moving average of $22.67 and a 200-day simple moving average of $17.99. The company has a market capitalization of $1.12 billion, a P/E ratio of 150.54 and a beta of 1.52. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $62.19 million. PubMatic had a return on equity of 3.29% and a net margin of 3.33%. PubMatic’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.09) earnings per share. On average, equities analysts predict that PubMatic, Inc. will post 0.18 EPS for the current fiscal year.

Institutional Trading of PubMatic

Large investors have recently bought and sold shares of the business. Guinness Atkinson Asset Management Inc boosted its stake in PubMatic by 48.6% in the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after buying an additional 992 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of PubMatic during the first quarter valued at approximately $107,000. DekaBank Deutsche Girozentrale purchased a new position in shares of PubMatic during the third quarter valued at approximately $68,000. Cornerstone Investment Partners LLC purchased a new position in PubMatic in the first quarter worth $222,000. Finally, SVB Wealth LLC bought a new stake in shares of PubMatic in the fourth quarter valued at $163,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PUBM shares. Royal Bank of Canada increased their price target on PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley started coverage on PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 target price on the stock. Finally, JMP Securities increased their target price on PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

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.