PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 6,250 Shares

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,250 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total value of $106,500.00. Following the sale, the chairman owned 35,580 shares in the company, valued at $606,283.20. This trade represents a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Down 2.7%

Shares of NASDAQ:PUBM opened at $16.50 on Friday. The company has a market cap of $751.58 million, a P/E ratio of -55.00 and a beta of 1.58. The business has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $11.29. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $18.44.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The firm had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Sell-side analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore reissued an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research report on Monday, August 10th. Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. 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 report on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research note on Friday, August 7th. Finally, Jefferies Financial Group boosted their price objective on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.25.

Institutional Trading of PubMatic

A number of institutional investors have recently modified their holdings of the company. Quantinno Capital Management LP lifted its position in PubMatic by 248.0% during 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 in the last quarter. Simcoe Capital LLC acquired a new stake in shares of PubMatic in the fourth quarter worth $3,625,000. CenterBook Partners LP increased its position in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after acquiring an additional 398,595 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of PubMatic by 26.3% in the 1st 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 period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PubMatic in the 1st quarter valued at $1,687,000. 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.