PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 4,111 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total value of $38,273.41. Following the completion of the transaction, the general counsel now directly owns 39,509 shares in the company, valued at approximately $367,828.79. This trade represents a 9.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
PubMatic Stock Down 11.1 %
PubMatic stock opened at $8.37 on Friday. PubMatic, Inc. has a twelve month low of $8.32 and a twelve month high of $25.36. The company has a 50 day moving average of $12.58 and a 200-day moving average of $14.31. The stock has a market capitalization of $406.17 million, a PE ratio of 27.00 and a beta of 1.48.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. Equities analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in PubMatic in the 3rd quarter valued at approximately $170,000. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 239,406 shares in the last quarter. FMR LLC boosted its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after purchasing an additional 2,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PubMatic by 37.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company's stock worth $187,000 after purchasing an additional 3,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in PubMatic by 17.4% in 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 in the last quarter. 64.26% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
PUBM has been the topic of several analyst reports. JMP Securities reissued a "market outperform" rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Royal Bank of Canada decreased their price objective 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. Lake Street Capital lowered their target price on shares of PubMatic from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Scotiabank reduced their price target on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PubMatic currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.89.
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About PubMatic
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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.
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