Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $276,320.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $6.28, for a total transaction of $276,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PubMatic Stock Up 0.2%

PUBM opened at $6.57 on Friday. The firm has a 50 day moving average price of $7.82 and a 200-day moving average price of $8.38. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $15.02. The stock has a market capitalization of $304.95 million, a price-to-earnings ratio of -34.58 and a beta of 1.58.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its stake in PubMatic by 20.0% during the 4th quarter. Invesco Ltd. now owns 105,509 shares of the company’s stock worth $936,000 after acquiring an additional 17,581 shares during the period. XTX Topco Ltd bought a new stake in shares of PubMatic during the 4th quarter valued at $199,000. Tudor Investment Corp ET AL bought a new stake in shares of PubMatic during the 4th quarter valued at $893,000. Millennium Management LLC boosted its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after buying an additional 699,549 shares during the period. Finally, Engineers Gate Manager LP bought a new position in PubMatic in the 4th quarter worth $254,000. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wolfe Research restated an “outperform” rating and issued a $14.00 price target on shares of PubMatic in a research note on Monday, January 5th. Rosenblatt Securities boosted their price target on PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Thursday, January 22nd. Evercore raised their price objective on shares of PubMatic from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of PubMatic from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.44.

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.