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

Key Points

• PubMatic Chairman Amar Goel sold 6,250 shares at an average price of $17.04, generating $106,500 and reducing his stake by 14.94%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• PubMatic shares recently traded at $16.50, near their 12-month high of $18.44. The company’s latest quarterly results beat expectations, with a smaller-than-expected loss of $0.03 per share and revenue of $78.59 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $18.25; institutional investors own approximately 64.26% of the company.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) Chairman Amar Goel sold 6,250 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $17.04, for a total transaction of $106,500.00. Following the sale, the chairman owned 35,580 shares in the company, valued at $606,283.20. The trade was a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Price Performance

Shares of PUBM traded down $0.46 during mid-day trading on Friday, reaching $16.50. The company's stock had a trading volume of 345,742 shares, compared to its average volume of 688,147. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44. The stock has a market cap of $751.58 million, a PE ratio of -55.00 and a beta of 1.58. The company's 50 day moving average is $14.69 and its 200 day moving average is $11.26.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to analysts' expectations of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. As a group, sell-side analysts anticipate that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its position in PubMatic by 1.4% in the 4th quarter. Barclays PLC now owns 126,189 shares of the company's stock valued at $1,119,000 after buying an additional 1,723 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in PubMatic by 75.6% during the fourth 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 during the period. Versant Capital Management Inc lifted its holdings in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock worth $140,000 after purchasing an additional 2,482 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PubMatic by 1.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 141,255 shares of the company's stock valued at $1,757,000 after acquiring an additional 2,654 shares during the period. Finally, Diversified Trust Co increased its stake in shares of PubMatic by 20.8% in the first quarter. Diversified Trust Co now owns 17,564 shares of the company's stock valued at $144,000 after purchasing an additional 3,022 shares during the period. Hedge funds and other institutional investors own 64.26% of the company's stock.

Wall Street Analyst Weigh In

PUBM has been the subject of several recent research reports. Scotiabank raised PubMatic from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $8.00 to $21.00 in a report on Friday, August 7th. Lake Street Capital reiterated a "buy" rating and set a $20.00 target price on shares of PubMatic in a research report on Friday, August 7th. Royal Bank Of Canada upped their target price on PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Jefferies Financial Group lifted their price target on PubMatic from $10.00 to $18.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of PubMatic from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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