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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $8.72, for a total value of $383,680.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

PubMatic Trading Down 3.7%

Shares of PUBM stock opened at $8.11 on Friday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $13.88. The company has a market capitalization of $376.47 million, a P/E ratio of -26.16 and a beta of 1.46. The stock has a 50 day moving average of $7.55 and a two-hundred day moving average of $8.27.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The business had revenue of $80.05 million for the quarter, compared to analysts’ expectations of $76.12 million. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%. Sell-side analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PUBM. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Wolfe Research restated an “outperform” rating and set a $14.00 price target on shares of PubMatic in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PubMatic in a report on Thursday, January 22nd. Finally, B. Riley Financial upgraded PubMatic from a “neutral” rating to a “buy” rating and upped their price objective for the company from $10.00 to $10.50 in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $12.63.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PUBM. Caitong International Asset Management Co. Ltd boosted its holdings in shares of PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. Invesco Ltd. increased its holdings in PubMatic by 20.0% during the 4th quarter. Invesco Ltd. now owns 105,509 shares of the company’s stock valued at $936,000 after purchasing an additional 17,581 shares in the last quarter. XTX Topco Ltd bought a new position in PubMatic in the 4th quarter valued at $199,000. Tudor Investment Corp ET AL bought a new position in PubMatic in the 4th quarter valued at $893,000. Finally, Millennium Management LLC boosted its stake in PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

About PubMatic

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.