PubMatic (NASDAQ:PUBM) General Counsel Sells 5,758 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 5,758 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $78,596.70. Following the completion of the sale, the general counsel directly owned 81,331 shares in the company, valued at approximately $1,110,168.15. This represents a 6.61% decrease in their position. The sale was disclosed in a document filed 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.

PubMatic Price Performance

Shares of PubMatic stock traded down $0.03 during trading on Monday, hitting $13.52. The stock had a trading volume of 433,149 shares, compared to its average volume of 704,710. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $13.99. The firm’s fifty day simple moving average is $11.04 and its 200-day simple moving average is $9.11. The stock has a market cap of $627.91 million, a PE ratio of -35.58 and a beta of 1.51.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data 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. The business had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on PUBM shares. Royal Bank Of Canada upped their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research note on Thursday, April 23rd. Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of PubMatic in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd raised its stake in PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares during the last quarter. State of Wyoming purchased a new position in PubMatic in the 1st quarter worth $61,000. Tower Research Capital LLC TRC lifted its position in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after acquiring an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after acquiring an additional 4,856 shares during the period. 64.26% of the stock is currently owned by hedge funds and other 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.