Rajeev K. Goel Sells 44,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 44,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $12.80, for a total value of $563,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 shares were sold at an average price of $11.02, for a total transaction of $484,880.00.

PubMatic Stock Up 2.2%

PUBM traded up $0.27 during trading on Friday, hitting $12.72. 385,207 shares of the stock were exchanged, compared to its average volume of 546,038. The firm has a market capitalization of $617.30 million, a P/E ratio of 159.02 and a beta of 1.54. PubMatic, Inc. has a 1-year low of $7.46 and a 1-year high of $22.99. The stock has a fifty day moving average price of $11.97 and a two-hundred day moving average price of $11.87.

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

Wall Street Analysts Forecast Growth

PUBM has been the subject of several recent research reports. Lake Street Capital reduced their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Royal Bank Of Canada reduced their price objective on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.38.

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently added to or reduced their stakes in PUBM. Graham Holdings Co boosted its position in shares of PubMatic by 21.4% in the first quarter. Graham Holdings Co now owns 2,831,462 shares of the company's stock worth $25,880,000 after buying an additional 500,000 shares during the period. Nuveen LLC purchased a new position in PubMatic in the first quarter valued at about $3,963,000. Acadian Asset Management LLC boosted its holdings in PubMatic by 483.6% in the first quarter. Acadian Asset Management LLC now owns 457,033 shares of the company's stock valued at $4,174,000 after purchasing an additional 378,714 shares during the last quarter. Pacer Advisors Inc. purchased a new position in PubMatic in the first quarter valued at about $2,455,000. Finally, Wellington Management Group LLP boosted its holdings in PubMatic by 20.0% in the first quarter. Wellington Management Group LLP now owns 1,077,921 shares of the company's stock valued at $9,852,000 after purchasing an additional 179,951 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.