PubMatic (NASDAQ:PUBM) CEO Sells $617,240.65 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 49,979 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $12.35, for a total value of $617,240.65. Following the sale, the chief executive officer owned 31,692 shares in the company, valued at approximately $391,396.20. The trade was a 61.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Price Performance

NASDAQ PUBM opened at $12.74 on Friday. The stock has a market capitalization of $591.65 million, a P/E ratio of -33.53 and a beta of 1.51. The business has a 50 day simple moving average of $12.27 and a 200 day simple moving average of $9.69. PubMatic, Inc. has a one year low of $6.15 and a one year high of $14.04.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The firm had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%. Equities analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on PUBM shares. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Friday, July 17th. Finally, Royal Bank Of Canada increased their price target on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.88.

Hedge Funds Weigh In On PubMatic

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in PubMatic by 55.7% during the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock worth $1,000,000 after purchasing an additional 39,124 shares in the last quarter. Creative Planning bought a new position in shares of PubMatic in the second quarter valued at approximately $269,000. Rhumbline Advisers lifted its holdings in shares of PubMatic by 9.7% in the second quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock valued at $819,000 after purchasing an additional 5,828 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of PubMatic by 15.0% during the second quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock valued at $596,000 after buying an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of PubMatic by 10.0% during the second quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after buying an additional 7,468 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

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.