PubMatic (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,897 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,897 shares of the company’s 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 owned 112,945 shares of the company’s stock, valued at approximately $1,541,699.25. This represents a 6.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $95,680.00.

PubMatic Trading Up 2.1%

NASDAQ:PUBM opened at $13.80 on Tuesday. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.99. The stock has a market cap of $640.83 million, a price-to-earnings ratio of -36.31 and a beta of 1.51. The stock has a 50-day moving average price of $11.12 and a two-hundred day moving average price of $9.14.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The business had revenue of $62.57 million for the quarter, compared to analysts’ expectations of $60.42 million. Sell-side analysts forecast that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of PubMatic in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 321,200 shares during the last quarter. Wellington Management Group LLP lifted its stake in PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after purchasing an additional 135,070 shares during the last quarter. CenterBook Partners LP grew its holdings in PubMatic by 53.3% during the fourth 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 during the period. Jacobs Levy Equity Management Inc. increased its position in PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after buying an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC raised its stake in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after buying an additional 699,549 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.