PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $246,000.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.84, for a total value of $246,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,297 shares of the company’s stock, valued at approximately $81,642.48. This trade represents a 75.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Trading Up 1.2 %

Shares of NASDAQ:PUBM opened at $11.13 on Friday. The firm has a market capitalization of $540.11 million, a PE ratio of 35.90 and a beta of 1.49. PubMatic, Inc. has a 1-year low of $7.46 and a 1-year high of $24.50. The business’s 50 day moving average is $9.43 and its 200-day moving average is $13.25.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $63.83 million during the quarter, compared to analyst estimates of $62.07 million. During the same period last year, the company earned ($0.05) EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, sell-side analysts predict that PubMatic, Inc. will post 0.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of PubMatic by 93.1% during the 3rd quarter. Barclays PLC now owns 129,196 shares of the company’s stock worth $1,921,000 after purchasing an additional 62,284 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of PubMatic during the third quarter worth approximately $240,000. Franklin Resources Inc. bought a new position in shares of PubMatic in the third quarter valued at approximately $941,000. JPMorgan Chase & Co. boosted its holdings in shares of PubMatic by 239.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after acquiring an additional 43,971 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PUBM has been the subject of a number of recent research reports. Lake Street Capital cut their price target on PubMatic from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada decreased their target price on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Scotiabank cut their price target on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.11.

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.