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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of PubMatic stock in a transaction on Monday, December 8th. The shares were sold at an average price of $9.02, for a total value of $396,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PubMatic Stock Up 3.2%

PubMatic stock traded up $0.28 during mid-day trading on Tuesday, reaching $9.14. 830,429 shares of the company’s stock were exchanged, compared to its average volume of 642,412. The company has a market cap of $424.28 million, a P/E ratio of -48.11 and a beta of 1.49. The company has a fifty day moving average of $8.62 and a 200-day moving average of $9.92. PubMatic, Inc. has a twelve month low of $7.01 and a twelve month high of $17.32.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $67.96 million during the quarter, compared to the consensus estimate of $63.95 million. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%. Equities research analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently made changes to their positions in PUBM. CenterBook Partners LP boosted its stake in shares of PubMatic by 239.0% during the 3rd quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after acquiring an additional 527,650 shares in the last quarter. Graham Holdings Co lifted its stake in PubMatic by 21.4% during the first quarter. Graham Holdings Co now owns 2,831,462 shares of the company’s stock worth $25,880,000 after purchasing an additional 500,000 shares during the period. Nuveen LLC bought a new stake in PubMatic in the first quarter valued at $3,963,000. Acadian Asset Management LLC increased its holdings in shares of PubMatic by 483.6% during the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company’s stock worth $4,174,000 after buying an additional 378,714 shares in the last quarter. Finally, UBS Group AG raised its position in PubMatic by 254.7% in the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after purchasing an additional 303,479 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PUBM. Wolfe Research reiterated an “outperform” rating and set a $12.00 price target on shares of PubMatic in a research note on Tuesday, November 11th. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Rosenblatt Securities raised their price target on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Lake Street Capital downgraded shares of PubMatic from a “buy” rating to a “hold” rating and decreased their target price for the company from $19.00 to $9.50 in a research note on Tuesday, August 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, PubMatic currently has an average rating of “Hold” and a consensus target price of $12.19.

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.