Rajeev K. Goel Sells 25,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.84, for a total transaction of $246,000.00. Following the sale, the chief executive officer now directly owns 8,297 shares in the company, valued at $81,642.48. This trade represents a 75.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, April 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00.

PubMatic Trading Up 9.6 %

Shares of PUBM opened at $11.00 on Friday. PubMatic, Inc. has a 12-month low of $7.46 and a 12-month high of $24.50. The firm has a market capitalization of $533.80 million, a P/E ratio of 35.48 and a beta of 1.49. The firm has a 50-day moving average price of $9.42 and a 200 day moving average price of $13.28.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. Equities research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in PubMatic by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after buying an additional 84,317 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after purchasing an additional 145,641 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 1.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 683,064 shares of the company’s stock valued at $10,034,000 after purchasing an additional 6,600 shares during the last quarter. Nixon Capital LLC raised its position in PubMatic by 1.4% in the fourth quarter. Nixon Capital LLC now owns 578,259 shares of the company’s stock valued at $8,518,000 after purchasing an additional 7,966 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in PubMatic by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 436,076 shares of the company’s stock worth $6,406,000 after purchasing an additional 4,603 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PUBM. Scotiabank reduced their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Friday, February 28th. Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada reduced their price objective on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.33.

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.