Rajeev Goel Sells 49,980 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 49,980 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.49, for a total transaction of $824,170.20. Following the completion of the transaction, the chief executive officer directly owned 16,083 shares in the company, valued at $265,208.67. The trade was a 75.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Trading Up 0.1%

Shares of PubMatic stock opened at $16.41 on Friday. The firm has a market capitalization of $747.48 million, a PE ratio of -54.70 and a beta of 1.54. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $18.44. The business’s 50-day moving average price is $13.77 and its 200-day moving average price is $10.60.

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

Analyst Ratings Changes

Several analysts have issued reports on PUBM shares. Wall Street Zen upgraded shares of PubMatic from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Friday, August 7th. Citizens Jmp boosted their target price on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Finally, Scotiabank upgraded PubMatic from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $8.00 to $21.00 in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Institutional Investors Weigh In On PubMatic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of PubMatic by 10.1% during the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after acquiring an additional 135,070 shares during the last quarter. CenterBook Partners LP raised its stake in shares of PubMatic by 53.3% during the fourth 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 last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of PubMatic by 9.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of PubMatic by 320.0% during the fourth 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. 64.26% of the stock is currently owned by institutional investors.

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.