Insider Selling: PubMatic (NASDAQ:PUBM) Chairman Sells $89,871.60 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,584 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $89,871.60. Following the completion of the sale, the chairman owned 35,580 shares of the company’s stock, valued at $485,667. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Price Performance

Shares of NASDAQ:PUBM traded down $0.03 during midday trading on Monday, hitting $13.52. The company had a trading volume of 433,149 shares, compared to its average volume of 704,710. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.99. The stock has a market cap of $627.91 million, a price-to-earnings ratio of -35.58 and a beta of 1.51. The business’s 50-day simple moving average is $11.04 and its 200-day simple moving average is $9.11.

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. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The company had revenue of $62.57 million during the quarter, compared to analysts’ expectations of $60.42 million. As a group, sell-side analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. Royal Bank Of Canada lifted their price target on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Rosenblatt Securities reiterated 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 upgraded 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 issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average price target of $12.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PUBM. Renaissance Technologies LLC increased its position in shares of PubMatic by 26.3% during the first 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 during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after acquiring an additional 135,070 shares during the last quarter. CenterBook Partners LP boosted its position in shares of PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the last quarter. Hedge funds and other 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.