Rajeev K. Goel Sells 25,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total value of $228,500.00. Following the completion of the sale, the chief executive officer now owns 32,304 shares of the company’s stock, valued at approximately $295,258.56. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PubMatic Stock Performance

NASDAQ:PUBM opened at $8.37 on Friday. The firm’s fifty day moving average is $12.58 and its two-hundred day moving average is $14.31. The firm has a market cap of $406.17 million, a price-to-earnings ratio of 27.00 and a beta of 1.48. PubMatic, Inc. has a one year low of $8.32 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million for the quarter, compared to analyst estimates of $88.24 million. As a group, equities research analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on PUBM. Scotiabank decreased their price objective on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Lake Street Capital lowered their price objective on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and an average target price of $19.89.

Hedge Funds Weigh In On PubMatic

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in PubMatic by 19.4% during the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock valued at $13,191,000 after buying an additional 145,641 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of PubMatic by 17.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,246 shares of the company’s stock worth $1,384,000 after acquiring an additional 13,926 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PubMatic during the 4th quarter valued at about $57,000. ProShare Advisors LLC purchased a new position in shares of PubMatic in the 4th quarter valued at about $173,000. Finally, Nuveen Asset Management LLC raised its holdings in PubMatic by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 436,076 shares of the company’s stock worth $6,406,000 after purchasing an additional 4,603 shares during the period. 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.