Rajeev Goel Sells 49,979 Shares of PubMatic (NASDAQ:PUBM) Stock

Key Points

• CEO Rajeev Goel sold 49,979 PubMatic shares for approximately $617,241 at an average price of $12.35, reducing his direct ownership by 61.2% to 31,692 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• PubMatic shares rose 3.2% to $13.20, while the company reported quarterly revenue of $62.57 million and an adjusted EPS loss of $0.27, both better than analyst expectations.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $12.88 target price, although ratings range from “Strong Buy” to “Sell.” Institutional investors own approximately 64.26% of the stock.

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 49,979 shares of the business's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $12.35, for a total value of $617,240.65. Following the completion of the transaction, the chief executive officer directly owned 31,692 shares in the company, valued at approximately $391,396.20. The trade was a 61.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Stock Up 3.2%

Shares of NASDAQ PUBM traded up $0.41 during mid-day trading on Tuesday, hitting $13.20. 59,493 shares of the company were exchanged, compared to its average volume of 671,466. The stock has a 50 day simple moving average of $12.10 and a 200-day simple moving average of $9.59. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $14.04. The firm has a market cap of $613.05 million, a price-to-earnings ratio of -34.71 and a beta of 1.51.

PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The company had revenue of $62.57 million for the quarter, compared to analysts' expectations of $60.42 million. Analysts anticipate that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PUBM. Royal Bank Of Canada raised their price objective on shares of PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. B. Riley Financial reiterated a "buy" rating on shares of PubMatic in a research report on Friday, May 8th. Weiss Ratings reissued a "sell (d)" rating on shares of PubMatic in a research note on Friday, July 17th. Rosenblatt Securities reissued a "buy" rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. Finally, Wall Street Zen upgraded PubMatic from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.88.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Simcoe Capital LLC acquired a new stake in shares of PubMatic in the 4th quarter worth approximately $3,625,000. CenterBook Partners LP raised its holdings in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock worth $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Diversified Investment Strategies LLC raised its holdings in PubMatic by 40.0% during the first quarter. Diversified Investment Strategies LLC now owns 140,000 shares of the company's stock worth $1,145,000 after purchasing an additional 40,000 shares during the last quarter. Diversified Trust Co boosted its position in PubMatic by 20.8% during the first quarter. Diversified Trust Co now owns 17,564 shares of the company's stock worth $144,000 after purchasing an additional 3,022 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in PubMatic by 75.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock worth $39,000 after purchasing an additional 1,915 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.