Amar Goel Sells 6,250 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,250 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $17.04, for a total transaction of $106,500.00. Following the completion of the transaction, the chairman directly owned 35,580 shares in the company, valued at $606,283.20. This represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Trading Down 2.7%

PUBM stock opened at $16.50 on Friday. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44. The business’s 50-day moving average is $14.77 and its 200 day moving average is $11.29. The stock has a market cap of $751.58 million, a price-to-earnings ratio of -55.00 and a beta of 1.58.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. As a group, equities analysts forecast that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in shares of PubMatic by 55.7% in the first quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after purchasing an additional 39,124 shares during the period. Creative Planning purchased a new position in PubMatic during the second quarter worth about $269,000. Rhumbline Advisers raised its stake in PubMatic by 9.7% during the second quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after purchasing an additional 5,828 shares during the period. Hsbc Holdings PLC boosted its holdings in PubMatic by 15.0% in the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock valued at $596,000 after purchasing an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in PubMatic by 10.0% in the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after purchasing an additional 7,468 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PUBM. Rosenblatt Securities lifted their target price on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Evercore reissued an “outperform” rating and issued a $21.00 price target on shares of PubMatic in a research note on Monday, August 10th. Wall Street Zen lowered shares of PubMatic from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group upped their price objective on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp raised their target price on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.25.

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.