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

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 5,758 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $78,596.70. Following the completion of the transaction, the general counsel owned 81,331 shares in the company, valued at approximately $1,110,168.15. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Trading Up 2.1%

Shares of NASDAQ PUBM opened at $13.80 on Tuesday. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $13.99. The company has a market cap of $640.83 million, a price-to-earnings ratio of -36.31 and a beta of 1.51. The stock’s 50 day simple moving average is $11.12 and its 200 day simple moving average is $9.14.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. As a group, equities analysts forecast that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of PubMatic during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PubMatic by 75.6% during the fourth 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 in the last quarter. State of Wyoming acquired a new stake in PubMatic during the first quarter valued at $61,000. Tower Research Capital LLC TRC boosted its position in PubMatic by 264.8% during the second 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 last quarter. Finally, BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 4,856 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

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