PubMatic (NASDAQ:PUBM) Chairman Amar Goel Sells 7,302 Shares of Company Stock

Key Points

• PubMatic Chairman Amar Goel sold 7,302 shares at an average price of $18.97, generating $138,518.94. The sale covered tax obligations tied to vested equity awards and reduced his direct ownership by 13.6% to 46,375 shares.
• PubMatic shares recently traded at $18.60, near their 12-month high of $19.48, while the stock’s consensus analyst rating is “Moderate Buy” with a $19.73 price target.
• The company exceeded quarterly expectations, reporting revenue of $78.59 million versus a $68.95 million consensus estimate and an EPS loss of $0.03 compared with the expected $0.18 loss. Institutional investors collectively own 64.26% of PubMatic’s shares.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) Chairman Amar Goel sold 7,302 shares of the business's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $138,518.94. Following the transaction, the chairman directly owned 46,375 shares of the company's stock, valued at approximately $879,733.75. This represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Price Performance

Shares of PUBM stock traded up $0.18 during trading hours on Monday, reaching $18.60. 646,336 shares of the stock were exchanged, compared to its average volume of 693,762. The business's fifty day moving average is $16.48 and its two-hundred day moving average is $12.72. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $19.48. The firm has a market capitalization of $847.23 million, a P/E ratio of -62.00 and a beta of 1.56.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $68.95 million. As a group, equities research analysts predict that PubMatic, Inc. will post -0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Craig Hallum assumed coverage on shares of PubMatic in a research report on Thursday, September 24th. They set a "buy" rating and a $24.00 price objective for the company. Scotiabank raised PubMatic from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $8.00 to $21.00 in a report on Friday, August 7th. Citigroup restated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. B. Riley Financial lifted their price target on PubMatic from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, September 18th. Finally, Lake Street Capital reiterated a "buy" rating and issued a $20.00 price objective on shares of PubMatic in a report on Friday, August 7th. Eleven 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its stake in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock valued at $39,000 after buying an additional 1,915 shares during the last quarter. State of Wyoming acquired a new stake in shares of PubMatic in the first quarter valued at approximately $61,000. Versant Capital Management Inc grew its position in shares of PubMatic by 30.4% during the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock worth $140,000 after acquiring an additional 2,482 shares during the last quarter. Savant Capital LLC purchased a new position in shares of PubMatic during the fourth quarter worth approximately $110,000. Finally, Sei Investments Co. acquired a new position in shares of PubMatic in the 1st quarter valued at $129,000. Institutional investors and hedge funds own 64.26% of the company's stock.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company's platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.

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