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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $11.33, for a total transaction of $498,520.00. Following the completion of the transaction, the chief executive officer directly owned 21,206 shares in the company, valued at $240,263.98. This trade represents a 67.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Trading Up 2.4%

Shares of NASDAQ PUBM opened at $11.51 on Wednesday. The firm has a market capitalization of $534.52 million, a PE ratio of -30.29 and a beta of 1.57. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.88. The firm’s 50-day moving average is $9.88 and its 200-day moving average is $8.72.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The company had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. As a group, equities research analysts anticipate that PubMatic, Inc. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada lifted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $12.88.

Institutional Trading of PubMatic

Hedge funds have recently bought and sold shares of the stock. Roubaix Capital LLC acquired a new stake in PubMatic during the 3rd quarter worth approximately $2,247,000. Acuitas Investments LLC raised its holdings in PubMatic by 142.8% during the 3rd quarter. Acuitas Investments LLC now owns 355,651 shares of the company’s stock worth $2,945,000 after buying an additional 209,159 shares during the period. CenterBook Partners LP raised its holdings in PubMatic by 239.0% during the 3rd quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after buying an additional 527,650 shares during the period. Simcoe Capital LLC acquired a new stake in PubMatic during the 4th quarter worth approximately $3,625,000. Finally, Diversified Trust Co raised its holdings in PubMatic by 20.8% during the 1st quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock worth $144,000 after buying an additional 3,022 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.