Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $238,918.16 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 17,176 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $13.91, for a total value of $238,918.16. Following the sale, the chief executive officer directly owned 17,176 shares in the company, valued at approximately $238,918.16. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Trading Down 0.2%

NASDAQ:PUBM traded down $0.03 during mid-day trading on Monday, hitting $13.52. 433,149 shares of the company’s stock were exchanged, compared to its average volume of 704,710. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.99. The firm has a market capitalization of $627.91 million, a P/E ratio of -35.58 and a beta of 1.51. The company has a 50 day simple moving average of $11.04 and a 200-day simple moving average of $9.11.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The business had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. As a group, analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Analyst Ratings Changes

PUBM has been the subject of several recent analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Royal Bank Of Canada increased their target price 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. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of PubMatic during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,915 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of PubMatic by 264.8% during the second 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 in the last quarter. State of Wyoming purchased a new stake in PubMatic in the first quarter worth about $61,000. Finally, BNP Paribas Financial Markets raised its stake in PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after buying an additional 4,856 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

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.