PubMatic (NASDAQ:PUBM) General Counsel Sells $688,424.76 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 38,331 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the completion of the transaction, the general counsel owned 39,761 shares in the company, valued at approximately $714,107.56. This trade represents a 49.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Woods also recently made the following trade(s):

• On Thursday, July 2nd, Andrew Woods sold 5,758 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total transaction of $78,596.70.

PubMatic Trading Down 2.7%

NASDAQ PUBM opened at $17.18 on Thursday. The firm has a market cap of $797.84 million, a price-to-earnings ratio of -57.26 and a beta of 1.54. The company has a 50 day moving average of $12.98 and a 200-day moving average of $10.15. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $18.44.

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 analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, analysts forecast that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On PubMatic

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Wellington Management Group LLP raised its holdings in PubMatic by 10.1% during 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 during the last quarter. CenterBook Partners LP lifted 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 valued at $10,174,000 after purchasing an additional 398,595 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after purchasing an additional 77,566 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of PubMatic by 320.0% in 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 during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PUBM shares. Wall Street Zen upgraded PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Lake Street Capital reissued a “buy” rating and set a $20.00 price objective on shares of PubMatic in a report on Friday, August 7th. Rosenblatt Securities increased their price objective on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Weiss Ratings cut shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their target price 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. Ten 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.25.

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.