PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 43,077 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 43,077 shares of PubMatic stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $11.30, for a total transaction of $486,770.10. Following the completion of the transaction, the chief executive officer directly owned 43,077 shares in the company, valued at $486,770.10. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

Shares of PUBM opened at $11.30 on Tuesday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $13.88. The stock has a fifty day moving average price of $10.42 and a 200-day moving average price of $8.88. The firm has a market cap of $524.77 million, a PE ratio of -29.74 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share 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 during the quarter, compared to analysts’ expectations of $60.42 million. As a group, research analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. B. Riley Financial restated a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $21.00 price objective on shares of PubMatic in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of PubMatic during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after buying an additional 1,915 shares during the last quarter. State of Wyoming purchased a new stake in shares of PubMatic in the first quarter worth about $61,000. Tower Research Capital LLC TRC grew its holdings in PubMatic by 264.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after acquiring an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in PubMatic by 120.8% during the third quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after acquiring an additional 4,856 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

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.