Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $383,680.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $8.72, for a total transaction of $383,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Stock Performance

Shares of PUBM opened at $8.03 on Friday. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.88. The company’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $8.26. The company has a market capitalization of $372.75 million, a price-to-earnings ratio of -25.90 and a beta of 1.46.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. The firm had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $76.12 million. PubMatic had a negative net margin of 5.11% and a negative return on equity of 5.64%. Equities analysts expect that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after purchasing an additional 135,070 shares during the period. CenterBook Partners LP lifted its stake in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PubMatic by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 985,948 shares of the company’s stock worth $12,267,000 after purchasing an additional 49,209 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 9.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares during the period. Finally, Millennium Management LLC increased its position in PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PUBM shares. Lake Street Capital upgraded PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. B. Riley Financial raised PubMatic from a “neutral” rating to a “buy” rating and raised their price target for the stock from $10.00 to $10.50 in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a report on Thursday, January 22nd. Rosenblatt Securities increased their price objective on shares of PubMatic from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Wolfe Research reissued an “outperform” rating and issued a $14.00 target price on shares of PubMatic in a research report on Monday, January 5th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

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.