PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 44,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $10.41, for a total value of $458,040.00. Following the completion of the transaction, the chief executive officer directly owned 21,206 shares in the company, valued at approximately $220,754.46. This trade represents a 67.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 4.8%

PUBM stock opened at $11.05 on Thursday. The business’s fifty day moving average is $9.24 and its 200-day moving average is $8.56. The company has a market cap of $513.16 million, a P/E ratio of -29.08 and a beta of 1.54. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.88.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The company had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%. Research analysts anticipate that PubMatic, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PUBM shares. Rosenblatt Securities reissued a “buy” rating and set a $21.00 price target on shares of PubMatic in a research report on Thursday, April 23rd. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Finally, B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its holdings in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after buying an additional 147,386 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after buying an additional 321,200 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of PubMatic in the first quarter valued at approximately $1,687,000. Sei Investments Co. acquired a new position in shares of PubMatic in the first quarter valued at approximately $129,000. Finally, State of Wyoming acquired a new position in shares of PubMatic in the first quarter valued at approximately $61,000. Institutional investors and hedge funds 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.