Rajeev Goel Sells 58,854 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 58,854 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $13.68, for a total value of $805,122.72. Following the completion of the sale, the chief executive officer directly owned 47,301 shares of the company’s stock, valued at approximately $647,077.68. This trade represents a 55.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Performance

Shares of PUBM stock traded down $0.03 on Monday, reaching $13.52. 433,149 shares of the company’s stock traded hands, compared to its average volume of 704,710. The company has a market capitalization of $627.91 million, a P/E ratio of -35.58 and a beta of 1.51. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $13.99. The business’s 50 day moving average price is $11.04 and its two-hundred day moving average price is $9.11.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The firm had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. Research analysts predict that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On PubMatic

Several institutional investors and hedge funds have recently modified their holdings of PUBM. Jane Street Group LLC increased its position in PubMatic by 55.7% during the first quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock worth $1,000,000 after buying an additional 39,124 shares during the last quarter. Creative Planning acquired a new stake in PubMatic in the 2nd quarter worth approximately $269,000. Rhumbline Advisers boosted its position in PubMatic by 9.7% during the second quarter. Rhumbline Advisers now owns 65,840 shares of the company’s stock worth $819,000 after purchasing an additional 5,828 shares during the period. Hsbc Holdings PLC boosted its position in PubMatic by 15.0% during the second quarter. Hsbc Holdings PLC now owns 46,637 shares of the company’s stock worth $596,000 after purchasing an additional 6,066 shares during the period. Finally, Invesco Ltd. grew its holdings in PubMatic by 10.0% during the second quarter. Invesco Ltd. now owns 81,994 shares of the company’s stock valued at $1,020,000 after purchasing an additional 7,468 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PUBM. Royal Bank Of Canada upped their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Rosenblatt Securities restated a “buy” rating and issued a $21.00 target price on shares of PubMatic in a research note on Thursday, April 23rd. Wall Street Zen raised PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. B. Riley Financial reaffirmed a “buy” rating on shares of PubMatic in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and a consensus target price of $12.88.

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.