Rajeev Goel Sells 44,000 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $10.41, for a total transaction of $458,040.00. Following the completion of the sale, the chief executive officer owned 21,206 shares of the company’s stock, valued at approximately $220,754.46. This trade represents a 67.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

Shares of NASDAQ:PUBM opened at $11.44 on Friday. The company has a market cap of $531.27 million, a PE ratio of -30.11 and a beta of 1.54. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $13.88. The firm has a 50 day simple moving average of $9.31 and a 200 day simple moving average of $8.59.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The business had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. On average, equities analysts predict that PubMatic, Inc. will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of PubMatic during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd increased its stake in shares of PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after purchasing an additional 3,541 shares during the last quarter. State of Wyoming acquired a new position in shares of PubMatic during the 1st quarter worth $61,000. Finally, BNP Paribas Financial Markets increased its stake in shares of PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after purchasing an additional 4,856 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.88.

PubMatic Company Profile

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.