Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells 44,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $11.33, for a total value of $498,520.00. Following the transaction, the chief executive officer owned 21,206 shares of the company’s stock, valued at approximately $240,263.98. This trade represents a 67.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded up $0.27 during midday trading on Tuesday, reaching $11.51. The stock had a trading volume of 488,259 shares, compared to its average volume of 720,943. The stock has a 50-day moving average of $9.81 and a 200-day moving average of $8.71. The company has a market capitalization of $534.52 million, a price-to-earnings ratio of -30.29 and a beta of 1.56. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data 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. The firm had revenue of $62.57 million during the quarter, compared to analysts’ expectations of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. As a group, analysts forecast that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $21.00 target price on shares of PubMatic in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Institutional Trading of PubMatic

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of PubMatic in the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PubMatic by 75.6% in the 4th 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 during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of PubMatic by 264.8% in the 2nd 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 last quarter. State of Wyoming bought a new stake in shares of PubMatic in the 1st quarter worth about $61,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of PubMatic by 120.8% in the 3rd 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 last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

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.