PubMatic (NASDAQ:PUBM) CEO Rajeev Goel Sells 49,980 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 49,980 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.49, for a total value of $824,170.20. Following the completion of the transaction, the chief executive officer directly owned 16,083 shares of the company’s stock, valued at approximately $265,208.67. The trade was a 75.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Price Performance

Shares of PUBM stock opened at $16.41 on Friday. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $18.44. The stock’s 50-day moving average is $13.77 and its 200 day moving average is $10.60. The company has a market cap of $747.48 million, a P/E ratio of -54.70 and a beta of 1.54.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, analysts anticipate that PubMatic, Inc. will post -0.09 EPS for the current year.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently modified their holdings of PUBM. Renaissance Technologies LLC raised its position in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Wellington Management Group LLP boosted its stake in PubMatic by 10.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock worth $12,159,000 after purchasing an additional 135,070 shares in the last quarter. CenterBook Partners LP grew its position in PubMatic by 53.3% during the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock worth $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in PubMatic by 9.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock worth $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC increased its stake in PubMatic by 320.0% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

PUBM has been the subject of a number of analyst reports. Citizens Jmp increased their target price on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a research note on Friday, August 7th. Wall Street Zen raised shares of PubMatic from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada upped their price target on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating and set a $21.00 price objective on shares of PubMatic in a report on Monday, August 10th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

PubMatic Company Profile

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.