Andrew Woods Sells 2,710 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 2,710 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total value of $41,463.00. Following the completion of the transaction, the general counsel now owns 26,739 shares of the company’s stock, valued at approximately $409,106.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Andrew Woods also recently made the following trade(s):

• On Tuesday, July 2nd, Andrew Woods sold 3,266 shares of PubMatic stock. The shares were sold at an average price of $20.41, for a total value of $66,659.06.

PubMatic Stock Down 5.1 %

NASDAQ:PUBM opened at $14.51 on Friday. PubMatic, Inc. has a 52 week low of $10.92 and a 52 week high of $25.36. The stock’s 50-day moving average price is $18.33 and its 200-day moving average price is $20.68. The stock has a market capitalization of $724.50 million, a PE ratio of 69.10 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $70.07 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. Sell-side analysts expect that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PUBM has been the topic of a number of recent research reports. Jefferies Financial Group dropped their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Macquarie cut their price objective on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. B. Riley decreased their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wolfe Research assumed coverage on shares of PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently added to or reduced their stakes in the stock. Dana Investment Advisors Inc. purchased a new stake in shares of PubMatic during the second quarter worth about $839,000. Truist Financial Corp purchased a new stake in shares of PubMatic during the second quarter worth about $380,000. Algert Global LLC increased its stake in shares of PubMatic by 19.0% during the second quarter. Algert Global LLC now owns 171,125 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,272 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of PubMatic during the second quarter worth about $6,582,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of PubMatic by 54.4% during the second quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock worth $5,382,000 after purchasing an additional 93,327 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.