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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 21,206 shares of the company’s stock, valued at approximately $240,263.98. The trade was a 67.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

PubMatic stock traded up $0.27 during mid-day trading on Tuesday, hitting $11.51. The company’s stock had a trading volume of 488,259 shares, compared to its average volume of 720,943. The company has a 50 day moving average of $9.81 and a 200-day moving average of $8.71. PubMatic, Inc. has a one year low of $6.15 and a one year high of $13.88. The stock has a market cap of $534.52 million, a PE ratio of -30.29 and a beta of 1.56.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of PubMatic in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. Lake Street Capital raised PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Royal Bank Of Canada lifted their target price on PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in PubMatic during the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its position in PubMatic by 75.6% during the 4th 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. State of Wyoming purchased a new position in PubMatic during the 1st quarter valued at about $61,000. Tower Research Capital LLC TRC increased its position in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets increased its position in PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.