PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $496,320.00 in Stock

Key Points

• CEO Rajeev K. Goel sold 44,000 shares of PubMatic stock for a total of $496,320 at an average price of $11.28, as disclosed in a recent SEC filing.
• PubMatic's latest earnings report revealed a loss of ($0.20) per share, missing estimates, while revenue decreased 4.3% year-over-year to $63.83 million.
• Several analysts have recently revised their price targets for the stock, with Lake Street Capital lowering its target from $21 to $19 and maintaining a "buy" rating.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 44,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $11.28, for a total value of $496,320.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, July 21st, Rajeev K. Goel sold 44,000 shares of PubMatic stock. The stock was sold at an average price of $12.80, for a total value of $563,200.00.
• On Monday, July 7th, Rajeev K. Goel sold 44,000 shares of PubMatic stock. The shares were sold at an average price of $12.53, for a total transaction of $551,320.00.
• On Monday, June 23rd, Rajeev K. Goel sold 44,000 shares of PubMatic stock. The stock was sold at an average price of $11.02, for a total transaction of $484,880.00.

PubMatic Price Performance

NASDAQ:PUBM traded up $0.55 during trading hours on Monday, reaching $11.67. 376,044 shares of the company were exchanged, compared to its average volume of 548,019. The firm has a market cap of $566.31 million, a price-to-earnings ratio of 145.89 and a beta of 1.54. The stock has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $11.74. PubMatic, Inc. has a 52-week low of $7.46 and a 52-week high of $19.91.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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 report on Friday, May 9th. Royal Bank Of Canada lowered their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.38.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic during the 4th quarter valued at $29,000. GAMMA Investing LLC raised its position in PubMatic by 23,208.3% in the first quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock valued at $26,000 after purchasing an additional 2,785 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic during the fourth quarter worth about $57,000. Tower Research Capital LLC TRC boosted its position in shares of PubMatic by 75.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after buying an additional 2,240 shares during the period. Finally, CWM LLC grew its stake in shares of PubMatic by 506.1% in the second quarter. CWM LLC now owns 5,964 shares of the company's stock valued at $74,000 after buying an additional 4,980 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

PubMatic Company Profile

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.

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