PubMatic (NASDAQ:PUBM) CEO Sells $805,122.72 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 58,854 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.68, for a total value of $805,122.72. Following the completion of the transaction, the chief executive officer owned 47,301 shares in the company, valued at approximately $647,077.68. This trade represents a 55.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $13.16 on Thursday. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.99. The firm has a market capitalization of $611.15 million, a PE ratio of -34.63 and a beta of 1.51. The business’s 50 day moving average price is $11.26 and its 200-day moving average price is $9.20.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data 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 return on equity of 6.98% and a negative net margin of 6.21%.The firm had revenue of $62.57 million during the quarter, compared to the consensus estimate of $60.42 million. As a group, analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $21.00 price target on shares of PubMatic in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their price target 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in PubMatic by 1.4% during the fourth quarter. Barclays PLC now owns 126,189 shares of the company’s stock worth $1,119,000 after purchasing an additional 1,723 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in PubMatic by 75.6% in 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 last quarter. Versant Capital Management Inc grew its stake in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after buying an additional 2,482 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PubMatic by 1.9% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 141,255 shares of the company’s stock valued at $1,757,000 after buying an additional 2,654 shares during the period. Finally, Diversified Trust Co increased its holdings in shares of PubMatic by 20.8% during the 1st quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock worth $144,000 after buying an additional 3,022 shares during the last quarter. Hedge funds and other 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.