Rajeev Goel Sells 44,000 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $8.92, for a total value of $392,480.00. The sale was disclosed in a filing with the SEC, which is available through this link.

PubMatic Trading Up 0.3%

PUBM stock opened at $8.96 on Thursday. The stock has a market cap of $415.92 million, a PE ratio of -47.16 and a beta of 1.49. PubMatic, Inc. has a 12 month low of $7.01 and a 12 month high of $17.32. The company has a 50-day moving average price of $8.78 and a 200 day moving average price of $9.69.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. The business had revenue of $67.96 million during the quarter, compared to the consensus estimate of $63.95 million. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%. Sell-side analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in PubMatic by 264.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after buying an additional 3,541 shares in the last quarter. CWM LLC increased its holdings in shares of PubMatic by 506.1% in the 2nd quarter. CWM LLC now owns 5,964 shares of the company’s stock valued at $74,000 after acquiring an additional 4,980 shares during the period. Quantbot Technologies LP bought a new position in shares of PubMatic in the 1st quarter worth $78,000. BNP Paribas Financial Markets lifted its stake in shares of PubMatic by 120.8% during the 3rd 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 last quarter. Finally, State of Wyoming bought a new stake in PubMatic during the first quarter valued at about $82,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PUBM has been the subject of several research reports. Evercore ISI boosted their price objective on shares of PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. B. Riley lifted their price target on shares of PubMatic from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Wednesday, October 8th. Rosenblatt Securities raised their price objective on PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of PubMatic in a research report on Tuesday, November 11th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.19.

PubMatic Company Profile

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.