Insider Selling: PubMatic (NASDAQ:PUBM) General Counsel Sells $688,424.76 in Stock

Key Points

• PubMatic General Counsel Andrew Woods sold 38,331 shares at an average price of $17.96, generating $688,424.76. The Rule 10b5-1 transaction reduced his direct holdings by 49.08% to 39,761 shares.
• PubMatic reported quarterly revenue of $78.59 million, exceeding estimates of $68.95 million, while adjusted EPS of negative $0.03 beat the consensus estimate of negative $0.18.
• The stock traded near its 12-month high at $17.76, while analysts maintained a generally positive outlook: 10 rated it Buy and one rated it Sell, with a consensus price target of $18.28.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 38,331 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76. Following the sale, the general counsel directly owned 39,761 shares of the company's stock, valued at $714,107.56. This trade represents a 49.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Woods also recently made the following trade(s):

• On Thursday, July 2nd, Andrew Woods sold 5,758 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total value of $78,596.70.

PubMatic Trading Down 0.1%

PUBM traded down $0.02 during trading on Monday, hitting $17.76. 1,639,143 shares of the company's stock traded hands, compared to its average volume of 687,450. The stock has a market capitalization of $824.77 million, a price-to-earnings ratio of -59.20 and a beta of 1.54. The company's 50 day simple moving average is $12.64 and its two-hundred day simple moving average is $9.94. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The firm had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. On average, equities analysts expect that PubMatic, Inc. will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in 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 acquiring an additional 39,124 shares in the last quarter. Creative Planning purchased a new stake in shares of PubMatic in the second quarter worth $269,000. Rhumbline Advisers increased its stake in shares of 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 raised its position in shares of PubMatic by 15.0% during the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company's stock valued at $596,000 after purchasing an additional 6,066 shares during the period. Finally, Invesco Ltd. raised its position in shares of PubMatic by 10.0% during the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company's stock valued at $1,020,000 after purchasing an additional 7,468 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PUBM shares. B. Riley Financial restated a "buy" rating on shares of PubMatic in a research report on Friday. Wall Street Zen upgraded shares of PubMatic from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reissued a "sell (d)" rating on shares of PubMatic in a report on Friday, July 17th. Scotiabank upgraded PubMatic from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $8.00 to $21.00 in a research note on Friday. Finally, Citizens Jmp lifted their price objective on PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.28.

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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