PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 58,854 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 58,854 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 47,301 shares in the company, valued at $647,077.68. This trade represents a 55.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Trading Down 0.2%

PUBM traded down $0.03 on Monday, reaching $13.52. The company had a trading volume of 433,149 shares, compared to its average volume of 704,710. The company has a market capitalization of $627.91 million, a P/E ratio of -35.58 and a beta of 1.51. The company has a fifty day moving average of $11.04 and a 200-day moving average of $9.11. PubMatic, Inc. has a one year low of $6.15 and a one year high of $13.99.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The company had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. Research analysts predict that PubMatic, Inc. will post -0.26 EPS for the current year.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in PubMatic during the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $39,000 after acquiring an additional 1,915 shares during the period. State of Wyoming purchased a new stake in shares of PubMatic in the 1st quarter valued at approximately $61,000. Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 3,541 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after purchasing an additional 4,856 shares during the period. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PUBM shares. Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada boosted their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Rosenblatt Securities reissued a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.88.

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.