Andrew Woods Sells 5,758 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 5,758 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total transaction of $78,596.70. Following the transaction, the general counsel owned 81,331 shares in the company, valued at $1,110,168.15. This represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Down 1.5%

Shares of NASDAQ PUBM opened at $13.32 on Wednesday. The firm’s 50-day moving average price is $11.20 and its 200-day moving average price is $9.17. PubMatic, Inc. has a 52-week low of $6.15 and a 52-week high of $13.99. The company has a market cap of $618.58 million, a PE ratio of -35.05 and a beta of 1.51.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million during the quarter, compared to analysts’ expectations of $60.42 million. As a group, equities research analysts anticipate that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Several institutional investors and hedge funds have recently bought and sold shares of PUBM. Renaissance Technologies LLC increased its position in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of PubMatic by 10.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after buying an additional 135,070 shares in the last quarter. CenterBook Partners LP grew its stake in shares of PubMatic by 53.3% during 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. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after acquiring an additional 77,566 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after acquiring an additional 699,549 shares in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PUBM. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating 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 report on Thursday, April 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.88.

Key PubMatic News

Here are the key news stories impacting PubMatic this week:

• Neutral Sentiment: CEO Rajeev Goel sold shares in two transactions, along with sales from the CFO, Chairman, General Counsel, and insider Mukul Kumar; the company said these were largely related to equity vesting and tax withholding rather than a change in outlook. Insider Selling: PubMatic (NASDAQ:PUBM) General Counsel Sells $78,596.70 in Stock
• Neutral Sentiment: PubMatic recently reported quarterly results that beat expectations on both EPS and revenue, which provides some fundamental support for the stock even as shares remain near their 52-week high. PubMatic stock information
• Negative Sentiment: The concentration of insider selling from multiple senior leaders may still be viewed by investors as a cautious signal, especially after the stock’s recent run-up toward its 52-week high. PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 6,584 Shares

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.