Rajeev Goel Sells 58,854 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 58,854 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.68, for a total transaction of $805,122.72. Following the completion of the transaction, the chief executive officer owned 47,301 shares of the company’s stock, valued at $647,077.68. This represents a 55.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Performance

PubMatic stock opened at $13.32 on Wednesday. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.99. The company has a market capitalization of $618.58 million, a P/E ratio of -35.05 and a beta of 1.51. The stock has a 50-day simple moving average of $11.20 and a 200-day simple moving average of $9.17.

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

Analysts Set New Price Targets

A number of research firms have commented on PUBM. Royal Bank Of Canada lifted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. 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 assigned a Sell rating to the company. According to MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its position in shares of PubMatic by 55.7% during the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock worth $1,000,000 after purchasing an additional 39,124 shares during the last quarter. Creative Planning purchased a new position in PubMatic during the second quarter worth about $269,000. Rhumbline Advisers lifted its holdings in shares of PubMatic by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after acquiring an additional 5,828 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of PubMatic by 15.0% in the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock valued at $596,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in PubMatic by 10.0% in the second quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after acquiring an additional 7,468 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic News Roundup

Here are the key news stories impacting PubMatic this week:

• Neutral Sentiment: CEO Rajeev Goel sold shares in two transactions, along with sales from the CFO, Chairman, General Counsel, and insider Mukul Kumar; the company said these were largely related to equity vesting and tax withholding rather than a change in outlook. Insider Selling: PubMatic (NASDAQ:PUBM) General Counsel Sells $78,596.70 in Stock
• Neutral Sentiment: PubMatic recently reported quarterly results that beat expectations on both EPS and revenue, which provides some fundamental support for the stock even as shares remain near their 52-week high. PubMatic stock information
• Negative Sentiment: The concentration of insider selling from multiple senior leaders may still be viewed by investors as a cautious signal, especially after the stock’s recent run-up toward its 52-week high. PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 6,584 Shares

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.