Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells 44,000 Shares of Stock

Key Points

• CEO Rajeev Goel sold 44,000 shares at an average price of $8.65 on April 13, generating $380,600 and cutting his stake by 67.48% to 21,206 shares; the transaction was made under a pre-arranged Rule 10b5-1 plan.
• PubMatic shares traded at $8.79 (recently up $0.14) with a market cap of about $416.7M and a 12‑month range of $6.15–$13.88; the company has a negative P/E but recently beat estimates with $0.29 EPS (vs. $0.16) and $80.05M in revenue (vs. $76.12M expected).
• Institutional and analyst context: 64.26% of stock is institutionally owned, several funds recently increased positions, and analysts have an average "Moderate Buy" rating with a $12.63 price target after multiple upgrades.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 44,000 shares of the company's stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $8.65, for a total value of $380,600.00. Following the completion of the sale, the chief executive officer directly owned 21,206 shares of the company's stock, valued at $183,431.90. The trade was a 67.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Performance

Shares of PUBM stock traded up $0.14 during trading hours on Tuesday, reaching $8.79. The company had a trading volume of 395,847 shares, compared to its average volume of 718,376. The company has a market capitalization of $416.69 million, a P/E ratio of -28.35 and a beta of 1.48. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.88. The stock's fifty day simple moving average is $7.68 and its 200 day simple moving average is $8.23.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.16 by $0.13. PubMatic had a negative return on equity of 5.64% and a negative net margin of 5.11%.The firm had revenue of $80.05 million for the quarter, compared to analyst estimates of $76.12 million. As a group, equities analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PUBM. Jane Street Group LLC increased its position in shares of PubMatic by 55.7% in the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company's stock worth $1,000,000 after purchasing an additional 39,124 shares during the last quarter. Creative Planning acquired a new position in PubMatic in the second quarter worth about $269,000. Rhumbline Advisers grew its stake in PubMatic by 9.7% in the second quarter. Rhumbline Advisers now owns 65,840 shares of the company's stock worth $819,000 after purchasing an additional 5,828 shares in the last quarter. Hsbc Holdings PLC increased its holdings in PubMatic by 15.0% in the second quarter. Hsbc Holdings PLC now owns 46,637 shares of the company's stock valued at $596,000 after buying an additional 6,066 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in PubMatic by 10.0% in the second quarter. Invesco Ltd. now owns 81,994 shares of the company's stock valued at $1,020,000 after buying an additional 7,468 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PUBM shares. Lake Street Capital upgraded shares of PubMatic from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $21.00 price objective on shares of PubMatic in a report on Friday, March 20th. B. Riley Financial raised shares of PubMatic from a "neutral" rating to a "buy" rating and upped their price objective for the company from $10.00 to $10.50 in a research report on Friday, February 27th. Weiss Ratings restated a "sell (d)" rating on shares of PubMatic in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered PubMatic from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned 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 currently has an average rating of "Moderate Buy" and an average price target of $12.63.

PubMatic Company Profile

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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