PubMatic (NASDAQ:PUBM) CEO Sells 49,980 Shares

Key Points

• PubMatic CEO Rajeev Goel sold 49,980 shares at an average price of $16.49, generating $824,170.20. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 75.66% to 16,083 shares.
• PubMatic shares rose 0.1% to $16.41, while the company reported quarterly revenue of $78.59 million and an adjusted EPS loss of $0.03, both better than analysts’ expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $18.25; institutional investors own 64.26% of the company.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 49,980 shares of PubMatic stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.49, for a total value of $824,170.20. Following the sale, the chief executive officer directly owned 16,083 shares of the company's stock, valued at approximately $265,208.67. This trade represents a 75.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 0.1%

Shares of PUBM stock traded up $0.02 on Friday, hitting $16.41. The stock had a trading volume of 527,677 shares, compared to its average volume of 796,047. PubMatic, Inc. has a one year low of $6.15 and a one year high of $18.44. The business has a 50 day moving average price of $13.77 and a 200 day moving average price of $10.60. The company has a market cap of $747.48 million, a PE ratio of -54.70 and a beta of 1.54.

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 business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. Equities research analysts expect that PubMatic, Inc. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PUBM shares. Royal Bank Of Canada boosted their target price on shares of PubMatic from $11.00 to $13.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Evercore reissued an "outperform" rating and set a $21.00 price objective on shares of PubMatic in a research report on Monday, August 10th. Citigroup restated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. Scotiabank raised shares of PubMatic from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $8.00 to $21.00 in a research note on Friday, August 7th. Finally, B. Riley Financial restated a "buy" rating on shares of PubMatic in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of PubMatic in the second quarter valued at approximately $872,000. Pinnacle Holdings LLC purchased a new stake in PubMatic during the second quarter valued at about $2,076,000. Bank of New York Mellon Corp acquired a new stake in PubMatic during the 2nd quarter worth approximately $1,595,000. Versant Capital Management Inc increased its position in shares of PubMatic by 30.4% in the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock worth $140,000 after acquiring an additional 2,482 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of PubMatic by 248.0% during the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock worth $1,692,000 after purchasing an additional 147,386 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company's stock.

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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