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

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 stock was sold at an average price of $12.35, for a total value of $617,240.65. Following the completion of the transaction, the chief executive officer owned 31,692 shares in the company, valued at $391,396.20. The trade was a 61.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 1.9%

PUBM stock opened at $13.03 on Wednesday. The firm has a market cap of $605.11 million, a PE ratio of -34.29 and a beta of 1.51. The business has a 50 day moving average of $12.16 and a 200-day moving average of $9.62. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $14.04.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%. On average, research analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted 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. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average price target of $12.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Wellington Management Group LLP lifted its holdings in PubMatic by 10.1% during the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after purchasing an additional 135,070 shares during the last quarter. CenterBook Partners LP boosted its position in PubMatic by 53.3% during the fourth 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. boosted its position in PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares during the period. Finally, Millennium Management LLC boosted its position in PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares during the period. 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.