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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $10.41, for a total transaction of $458,040.00. Following the completion of the sale, the chief executive officer owned 21,206 shares in the company, valued at $220,754.46. This represents a 67.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 4.8%

Shares of PUBM traded up $0.51 on Wednesday, hitting $11.05. 754,073 shares of the stock traded hands, compared to its average volume of 718,146. The firm has a market capitalization of $513.20 million, a P/E ratio of -29.08 and a beta of 1.54. The stock’s 50 day moving average is $9.18 and its two-hundred day moving average is $8.54. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The business had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Research analysts forecast that PubMatic, Inc. will post -0.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Royal Bank Of Canada increased their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.88.

Institutional Investors Weigh In On PubMatic

Large investors have recently made changes to their positions in the business. Jane Street Group LLC grew its holdings in PubMatic by 55.7% during the 1st 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 in the last quarter. Creative Planning acquired a new stake in PubMatic during the 2nd quarter valued at $269,000. Rhumbline Advisers grew its holdings in PubMatic by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after acquiring an additional 5,828 shares in the last quarter. Hsbc Holdings PLC grew its holdings in PubMatic by 15.0% during the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock worth $596,000 after acquiring an additional 6,066 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in PubMatic by 10.0% during the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock worth $1,020,000 after acquiring an additional 7,468 shares in the last quarter. Institutional investors and hedge funds 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.