PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $414,492.56 in Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 33,001 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total value of $414,492.56. Following the completion of the sale, the chief executive officer owned 32,515 shares of the company's stock, valued at approximately $408,388.40. This represents a 50.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rajeev K. Goel also recently made the following trade(s):

• On Monday, June 23rd, Rajeev K. Goel sold 44,000 shares of PubMatic stock. The shares were sold at an average price of $11.02, for a total value of $484,880.00.

PubMatic Trading Up 1.2%

Shares of PUBM traded up $0.16 during trading hours on Friday, reaching $12.83. 235,174 shares of the stock traded hands, compared to its average volume of 494,575. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $22.99. The company has a market cap of $622.40 million, a price-to-earnings ratio of 160.33 and a beta of 1.54. The stock has a fifty day simple moving average of $11.35 and a 200 day simple moving average of $12.11.

PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 1.90% and a return on equity of 1.99%. The firm had revenue of $63.83 million during the quarter, compared to analysts' expectations of $62.07 million. During the same quarter last year, the business posted ($0.05) EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. Analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PUBM. Royal Bank Of Canada lowered their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Lake Street Capital cut their price target on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, PubMatic has an average rating of "Moderate Buy" and an average price target of $19.11.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Graham Holdings Co increased its position in shares of PubMatic by 21.4% during the 1st quarter. Graham Holdings Co now owns 2,831,462 shares of the company's stock valued at $25,880,000 after purchasing an additional 500,000 shares during the last quarter. Nuveen LLC bought a new position in PubMatic during the first quarter valued at about $3,963,000. Acadian Asset Management LLC increased its holdings in PubMatic by 483.6% during the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company's stock worth $4,174,000 after buying an additional 378,714 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in PubMatic during the first quarter worth about $2,455,000. Finally, Wellington Management Group LLP raised its position in PubMatic by 20.0% in the first quarter. Wellington Management Group LLP now owns 1,077,921 shares of the company's stock worth $9,852,000 after acquiring an additional 179,951 shares during the period. Hedge funds and other institutional investors own 64.26% of the company's stock.

About PubMatic

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.