Insider Selling: PubMatic (NASDAQ:PUBM) CAO Sells $28,315.07 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CAO Lisa Gimbel sold 2,863 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $9.89, for a total transaction of $28,315.07. Following the transaction, the chief accounting officer owned 13,677 shares of the company’s stock, valued at $135,265.53. This represents a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Performance

NASDAQ:PUBM opened at $10.21 on Friday. The company has a fifty day moving average of $9.05 and a two-hundred day moving average of $8.49. The stock has a market capitalization of $474.15 million, a PE ratio of -26.87 and a beta of 1.54. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.88.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data 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 analysts’ expectations 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 earnings per share for the current year.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of PubMatic by 26.3% in 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 during the last quarter. Wellington Management Group LLP grew its holdings in shares of PubMatic by 10.1% in the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after purchasing an additional 135,070 shares during the period. CenterBook Partners LP grew its holdings in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after purchasing an additional 398,595 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of PubMatic by 9.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the period. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PUBM. Lake Street Capital upgraded shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of PubMatic in a research report on Thursday, April 23rd. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Wall Street Zen upgraded shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Royal Bank Of Canada increased their target price on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently 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.