PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 44,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 44,000 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $11.02, for a total transaction of $484,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rajeev K. Goel also recently made the following trade(s):

• On Tuesday, April 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The shares were sold at an average price of $9.14, for a total transaction of $228,500.00.

PubMatic Stock Down 1.3%

Shares of PubMatic stock opened at $11.33 on Thursday. The firm has a market cap of $549.84 million, a PE ratio of 141.64 and a beta of 1.54. PubMatic, Inc. has a twelve month low of $7.46 and a twelve month high of $22.99. The business has a 50-day moving average price of $10.96 and a 200 day moving average price of $12.31.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The business had revenue of $63.83 million during the quarter, compared to analysts’ expectations of $62.07 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PUBM. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Royal Bank Of Canada dropped their target price on PubMatic from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Lake Street Capital decreased their price target on PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.11.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of PubMatic by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock worth $370,000 after purchasing an additional 2,234 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of PubMatic during the fourth quarter worth approximately $27,000. AlphaQuest LLC raised its stake in PubMatic by 64.9% in the 4th quarter. AlphaQuest LLC now owns 66,863 shares of the company’s stock valued at $982,000 after purchasing an additional 26,324 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PubMatic during the 4th quarter worth $1,216,000. Finally, Magnetar Financial LLC acquired a new stake in shares of PubMatic in the fourth quarter valued at about $422,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.