Rajeev Goel Sells 49,979 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 49,979 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $12.35, for a total transaction of $617,240.65. Following the transaction, the chief executive officer directly owned 31,692 shares in the company, valued at $391,396.20. The trade was a 61.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

PubMatic stock opened at $13.10 on Thursday. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $14.04. The firm has a market cap of $608.36 million, a PE ratio of -34.47 and a beta of 1.51. The firm’s 50 day moving average price is $12.22 and its two-hundred day moving average price is $9.66.

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 analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The company had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. Equities analysts anticipate that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after buying an additional 699,549 shares during the last quarter. Simcoe Capital LLC acquired a new position in shares of PubMatic during the 4th quarter valued at about $3,625,000. CenterBook Partners LP raised its stake in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after acquiring an additional 398,595 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of PubMatic by 254.7% in the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after acquiring an additional 303,479 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 analysts have commented on PUBM shares. Royal Bank Of Canada boosted their target price on PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Friday, July 17th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a report on Thursday, April 23rd. 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 research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

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.