Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $238,918.16 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 17,176 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $13.91, for a total transaction of $238,918.16. Following the completion of the sale, the chief executive officer owned 17,176 shares of the company’s stock, valued at approximately $238,918.16. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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

PUBM opened at $13.16 on Thursday. The firm has a market capitalization of $611.15 million, a price-to-earnings ratio of -34.63 and a beta of 1.51. The company’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $9.20. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $13.99.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results 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 analysts’ expectations of $60.42 million. On average, equities analysts anticipate that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of PubMatic during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd boosted 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 worth $39,000 after buying an additional 1,915 shares during the period. State of Wyoming acquired a new stake in shares of PubMatic in the first quarter valued at $61,000. Tower Research Capital LLC TRC raised its holdings in shares of PubMatic by 264.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after buying an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after acquiring an additional 4,856 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PUBM. Royal Bank Of Canada lifted 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. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.88.

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.