PubMatic (NASDAQ:PUBM) Chairman Sells $106,500.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar Goel sold 6,250 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total transaction of $106,500.00. Following the completion of the sale, the chairman owned 35,580 shares in the company, valued at approximately $606,283.20. This trade represents a 14.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

NASDAQ:PUBM opened at $16.50 on Monday. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $18.44. The company has a 50-day moving average of $14.77 and a 200-day moving average of $11.33. The firm has a market cap of $751.58 million, a price-to-earnings ratio of -55.00 and a beta of 1.58.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The company had revenue of $78.59 million for the quarter, compared to analysts’ expectations of $68.95 million. On average, research analysts forecast that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PUBM. Citizens Jmp raised their price objective on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, August 7th. Weiss Ratings cut PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen downgraded PubMatic from a “buy” rating to a “hold” rating in a report on Saturday. Ten research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its position in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the period. Simcoe Capital LLC bought a new position in PubMatic during the fourth quarter worth $3,625,000. CenterBook Partners LP raised its stake 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 last quarter. Renaissance Technologies LLC raised its stake in PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in PubMatic in the 1st quarter valued at $1,687,000. Institutional investors and hedge funds 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.