PubMatic (NASDAQ:PUBM) CAO Sells $23,787.84 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CAO Lisa Gimbel sold 1,396 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $17.04, for a total value of $23,787.84. Following the completion of the transaction, the chief accounting officer owned 16,927 shares in the company, valued at approximately $288,436.08. The trade was a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lisa Gimbel also recently made the following trade(s):

• On Wednesday, August 12th, Lisa Gimbel sold 500 shares of PubMatic stock. The stock was sold at an average price of $17.50, for a total value of $8,750.00.

PubMatic Stock Down 2.3%

PUBM stock opened at $16.39 on Friday. The business has a 50 day moving average price of $13.66 and a 200 day moving average price of $10.55. The stock has a market cap of $746.56 million, a price-to-earnings ratio of -54.63 and a beta of 1.54. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $18.44.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. As a group, sell-side analysts anticipate that PubMatic, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently made changes to their positions in PUBM. Quarry LP purchased a new stake in PubMatic during the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its stake in shares of PubMatic by 75.6% in 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 during the last quarter. State of Wyoming purchased a new position in shares of PubMatic in the 1st quarter valued at approximately $61,000. Tower Research Capital LLC TRC lifted its holdings 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 worth $61,000 after purchasing an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after purchasing an additional 4,856 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore reissued an “outperform” rating and issued a $21.00 price target on shares of PubMatic in a research report on Monday, August 10th. Royal Bank Of Canada raised their price objective on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Lake Street Capital reiterated a “buy” rating and set a $20.00 target price on shares of PubMatic in a research report on Friday, August 7th. Jefferies Financial Group boosted their target price on PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp upped their target price on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

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.