Insider Selling: PubMatic (NASDAQ:PUBM) Chairman Sells $89,871.60 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,584 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $89,871.60. Following the completion of the transaction, the chairman directly owned 35,580 shares in the company, valued at $485,667. This trade represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Trading Down 1.2%

NASDAQ:PUBM opened at $13.16 on Thursday. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.99. The company has a market cap of $611.15 million, a price-to-earnings ratio of -34.63 and a beta of 1.51. The stock has a fifty day simple moving average of $11.26 and a 200-day simple moving average of $9.20.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The firm had revenue of $62.57 million for 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%. As a group, equities research analysts predict that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in PubMatic during the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after buying an additional 1,915 shares during the period. Tower Research Capital LLC TRC boosted its position in PubMatic by 264.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after acquiring an additional 3,541 shares in the last quarter. State of Wyoming bought a new stake in PubMatic during the 1st quarter valued at $61,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after acquiring an additional 4,856 shares during the period. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PUBM shares. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Royal Bank Of Canada raised their price objective on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $21.00 target price on shares of PubMatic in a report on Thursday, April 23rd. Finally, B. Riley Financial reissued a “buy” rating on shares of PubMatic 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.