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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 8,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $17.05, for a total transaction of $136,400.00. Following the sale, the insider directly owned 112,945 shares in the company, valued at $1,925,712.25. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total transaction of $107,794.05.
• On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00.

PubMatic Price Performance

Shares of PUBM opened at $16.78 on Thursday. The company has a market capitalization of $764.33 million, a P/E ratio of -55.93 and a beta of 1.54. PubMatic, Inc. has a one year low of $6.15 and a one year high of $18.44. The business’s 50 day simple moving average is $13.56 and its 200-day simple moving average is $10.49.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The firm had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. On average, sell-side analysts anticipate that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on PUBM shares. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Friday, August 7th. Royal Bank Of Canada increased their price objective on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research report on Friday, August 7th. Lake Street Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of PubMatic in a research note on Friday, August 7th. Finally, Evercore reaffirmed an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of PubMatic during the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 last quarter. State of Wyoming bought a new position in PubMatic in the first quarter valued at about $61,000. Tower Research Capital LLC TRC boosted its holdings 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 last quarter. Finally, BNP Paribas Financial Markets increased its position in PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after purchasing an additional 4,856 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

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.