PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 50,021 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 50,021 shares of the business’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $17.26, for a total transaction of $863,362.46. Following the completion of the sale, the chief executive officer directly owned 31,774 shares of the company’s stock, valued at $548,419.24. This represents a 61.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 0.4%

NASDAQ PUBM opened at $17.24 on Friday. The company has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $13.71. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $19.48. The firm has a market cap of $785.28 million, a price-to-earnings ratio of -57.46 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (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%. Equities analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Scotiabank raised PubMatic from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Craig Hallum initiated coverage on PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 price objective for the company. Citizens Jmp raised their target price on shares of PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Jefferies Financial Group lifted their target price on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday, August 11th. Finally, Evercore reiterated an “outperform” rating and set a $21.00 price target on shares of PubMatic in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.73.

Institutional Trading of PubMatic

Large investors have recently modified their holdings of the business. WINTON GROUP Ltd lifted its holdings in PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after buying an additional 3,700 shares during the period. Squarepoint Ops LLC increased its stake in shares of PubMatic by 168.8% during the second quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock valued at $815,000 after buying an additional 39,023 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of PubMatic during the second quarter valued at approximately $872,000. Pinnacle Holdings LLC bought a new position in shares of PubMatic during the second quarter valued at approximately $2,076,000. Finally, Bank of New York Mellon Corp bought a new position in shares of PubMatic during the second quarter valued at approximately $1,595,000. 64.26% of the stock is owned by institutional investors.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.

The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.