PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 6,584 Shares

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,584 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 $89,871.60. Following the transaction, the chairman owned 35,580 shares in the company, valued at $485,667. This trade represents a 15.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Performance

NASDAQ:PUBM opened at $13.80 on Tuesday. The company has a market capitalization of $640.83 million, a price-to-earnings ratio of -36.31 and a beta of 1.51. PubMatic, Inc. has a one year low of $6.15 and a one year high of $13.99. The stock has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $9.14.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.05. The company had revenue of $62.57 million during 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, equities research analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Trading of PubMatic

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of PubMatic during the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its stake in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,915 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the period. State of Wyoming bought a new stake in shares of PubMatic in the 1st quarter worth $61,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of PubMatic by 120.8% in the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after buying an additional 4,856 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.