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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of PubMatic stock in a transaction on Monday, March 9th. The shares were sold at an average price of $8.72, for a total transaction of $383,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Price Performance

Shares of PUBM stock traded down $0.01 on Thursday, reaching $8.41. 22,436 shares of the company were exchanged, compared to its average volume of 730,748. The company has a market cap of $390.30 million, a price-to-earnings ratio of -27.11 and a beta of 1.46. The company has a 50-day moving average of $7.57 and a 200-day moving average of $8.27. PubMatic, Inc. has a one year low of $6.15 and a one year high of $13.88.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. The business had revenue of $80.05 million for the quarter, compared to the consensus estimate of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. As a group, sell-side analysts predict that PubMatic, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

PUBM has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Thursday, January 22nd. Wolfe Research restated an “outperform” rating and set a $14.00 price target on shares of PubMatic in a research note on Monday, January 5th. Rosenblatt Securities upped their price objective on shares of PubMatic from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. Wellington Management Group LLP lifted its holdings in PubMatic by 10.1% during the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after acquiring an additional 135,070 shares during the period. CenterBook Partners LP grew its stake in PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares during the period. Geode Capital Management LLC increased its position in shares of PubMatic by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 985,948 shares of the company’s stock valued at $12,267,000 after purchasing an additional 49,209 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of PubMatic by 9.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 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.