PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 43,077 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 43,077 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $11.30, for a total transaction of $486,770.10. Following the sale, the chief executive officer owned 43,077 shares of the company’s stock, valued at $486,770.10. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

PUBM stock remained flat at $11.30 during trading on Monday. 484,876 shares of the company traded hands, compared to its average volume of 586,522. The stock has a market cap of $524.77 million, a PE ratio of -29.74 and a beta of 1.56. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $13.88. The stock has a 50 day moving average of $10.42 and a 200 day moving average of $8.88.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. The company had revenue of $62.57 million during 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, research analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Lake Street Capital upgraded PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada upped their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.88.

Hedge Funds Weigh In On PubMatic

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in PubMatic in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its holdings in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the period. State of Wyoming acquired a new position in PubMatic during the 1st quarter valued at about $61,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

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.