PubMatic (NASDAQ:PUBM) CEO Sells 50,233 Shares of Company Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 50,233 shares of the firm’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $18.97, for a total transaction of $952,920.01. Following the transaction, the chief executive officer directly owned 47,424 shares of the company’s stock, valued at approximately $899,633.28. This trade represents a 51.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Up 1.0%

Shares of PubMatic stock traded up $0.18 during trading on Monday, hitting $18.60. 646,336 shares of the company were exchanged, compared to its average volume of 693,762. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $19.48. The firm has a 50 day moving average price of $16.48 and a 200 day moving average price of $12.72. The stock has a market capitalization of $847.23 million, a price-to-earnings ratio of -62.00 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The firm had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Analysts predict that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of PubMatic

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after buying an additional 321,200 shares in the last quarter. CenterBook Partners LP raised its stake in shares of 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 acquiring an additional 398,595 shares during the period. S Squared Technology LLC raised its stake in shares of PubMatic by 7.7% in the 4th quarter. S Squared Technology LLC now owns 280,972 shares of the company’s stock valued at $2,492,000 after acquiring an additional 20,000 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PubMatic during the 1st quarter worth $1,687,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

PUBM has been the topic of a number of analyst reports. Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Rosenblatt Securities increased their price objective on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Citizens Jmp increased their price target on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Lake Street Capital reiterated a “buy” rating and issued a $20.00 price target on shares of PubMatic in a report on Friday, August 7th. Finally, Citigroup reissued an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.73.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.