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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 21,206 shares in the company, valued at $240,263.98. The trade was a 67.48% decrease in their ownership of the stock. The sale was disclosed in a filing 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 PUBM stock opened at $11.18 on Thursday. The stock’s 50 day simple moving average is $9.94 and its 200 day simple moving average is $8.74. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.88. The company has a market capitalization of $519.20 million, a price-to-earnings ratio of -29.42 and a beta of 1.57.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. On average, analysts forecast that PubMatic, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PUBM shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of PubMatic in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.88.

Institutional Trading of PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in shares of PubMatic by 1.4% during the fourth quarter. Barclays PLC now owns 126,189 shares of the company’s stock valued at $1,119,000 after purchasing an additional 1,723 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,915 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PubMatic by 1.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 141,255 shares of the company’s stock valued at $1,757,000 after purchasing an additional 2,654 shares during the period. Diversified Trust Co increased its position in shares of PubMatic by 20.8% during the first quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock valued at $144,000 after purchasing an additional 3,022 shares during the period. Finally, Quarry LP bought a new stake in shares of PubMatic during the fourth quarter valued at approximately $30,000. 64.26% of the stock is currently owned by institutional investors.

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.