Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $930,857.85 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 50,453 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $18.45, for a total transaction of $930,857.85. Following the completion of the sale, the chief executive officer directly owned 50,453 shares of the company’s stock, valued at $930,857.85. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

PubMatic stock opened at $18.60 on Monday. The stock has a market cap of $847.23 million, a price-to-earnings ratio of -62.00 and a beta of 1.58. The company’s 50-day moving average price is $15.88 and its two-hundred day moving average price is $12.35. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $19.19.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. Research analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

PubMatic News Summary

Here are the key news stories impacting PubMatic this week:

• Positive Sentiment: Craig Hallum initiated coverage of PubMatic with a “buy” rating and a $24 price target, implying approximately 29% upside from the referenced $18.60 price. The endorsement adds to the bullish momentum surrounding the stock. Craig Hallum initiates coverage of PubMatic
• Positive Sentiment: PubMatic and Silverpush launched global, episode-level contextual CTV audience segments. The offering is designed to help advertisers target viewers based on the specific television content they are watching, potentially expanding PubMatic’s CTV advertising opportunity. Silverpush and PubMatic launch contextual CTV segments PubMatic expands show-level CTV targeting
• Neutral Sentiment: PubMatic was highlighted as a high-volume momentum stock after a reported 6.3% advance. Zacks cautioned that the latest earnings-estimate revision trend may not support continued near-term gains, creating a potential headwind for the rally. Zacks analysis of PubMatic momentum
• Neutral Sentiment: Reported short interest stood at zero shares as of September 24, with a zero-day days-to-cover ratio. This suggests little measurable short-selling pressure, but also means limited potential for a short-squeeze-driven catalyst.
• Negative Sentiment: CEO Rajeev Goel sold 50,453 shares for approximately $930,858, reducing his ownership by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which somewhat reduces its significance as a discretionary bearish signal, but insider selling can still weigh on sentiment. PubMatic CEO SEC Form 4 filing

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd lifted its position in shares of PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after acquiring an additional 3,700 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock worth $815,000 after purchasing an additional 39,023 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of PubMatic during the second quarter valued at $872,000. Pinnacle Holdings LLC purchased a new stake in shares of PubMatic during the second quarter valued at $2,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of PubMatic during the second quarter valued at $1,595,000. Institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

PUBM has been the topic of several research analyst reports. Wall Street Zen upgraded PubMatic from a “hold” rating to a “buy” rating in a research report on Saturday. Citizens Jmp upped their price objective on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. B. Riley Financial lifted their target price on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Craig Hallum began coverage on shares of PubMatic in a research report on Thursday. They issued a “buy” rating and a $24.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.73.

About PubMatic

PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.

The company’s solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.