Rajeev K. Goel Sells 7,500 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 7,500 shares of PubMatic stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.61, for a total transaction of $169,575.00. Following the transaction, the chief executive officer now directly owns 7,712 shares in the company, valued at approximately $174,368.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PubMatic Stock Performance

PUBM stock opened at $23.43 on Friday. PubMatic, Inc. has a one year low of $10.92 and a one year high of $24.18. The company’s fifty day moving average price is $22.39 and its 200-day moving average price is $17.72. The company has a market capitalization of $1.17 billion, a PE ratio of 156.21 and a beta of 1.52.

PubMatic (NASDAQ:PUBM) last released its earnings results on Monday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts predict that PubMatic, Inc. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Several large investors have recently bought and sold shares of the business. Cornerstone Investment Partners LLC bought a new stake in PubMatic in the first quarter worth $222,000. Harbour Capital Advisors LLC bought a new stake in PubMatic in the first quarter worth $266,000. Counterpoint Mutual Funds LLC bought a new stake in PubMatic in the first quarter worth $685,000. Los Angeles Capital Management LLC bought a new stake in PubMatic in the first quarter worth $1,412,000. Finally, Wellington Management Group LLP increased its position in PubMatic by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after purchasing an additional 17,497 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several analyst reports. JMP Securities lifted their price target on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price target on shares of PubMatic in a report on Monday, March 25th. Finally, B. Riley initiated coverage on shares of PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.20.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.