PubMatic (NASDAQ:PUBM) CEO Sells $824,170.20 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 49,980 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.49, for a total value of $824,170.20. Following the sale, the chief executive officer owned 16,083 shares in the company, valued at approximately $265,208.67. This trade represents a 75.66% decrease in their ownership of the stock. The sale 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 Price Performance

NASDAQ:PUBM opened at $16.41 on Monday. The firm has a market capitalization of $747.48 million, a price-to-earnings ratio of -54.70 and a beta of 1.54. The business has a 50 day simple moving average of $13.77 and a 200-day simple moving average of $10.62. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $18.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in PubMatic during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd grew its stake in 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in 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 in the last quarter. State of Wyoming purchased a new position in shares of PubMatic during the first quarter worth approximately $61,000. Finally, BNP Paribas Financial Markets increased its position in shares of 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 currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PUBM. Rosenblatt Securities lifted their price target on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. 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 report on Friday, May 8th. Lake Street Capital reissued a “buy” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th. Scotiabank upgraded PubMatic from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $8.00 to $21.00 in a research report on Friday, August 7th. Finally, Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.25.

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.