Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 25,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $11.80, for a total value of $295,000.00. Following the sale, the chief executive officer now directly owns 8,297 shares of the company's stock, valued at $97,904.60. This represents a 75.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, April 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The shares were sold at an average price of $9.14, for a total value of $228,500.00.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded down $0.20 during trading on Thursday, hitting $11.96. The company had a trading volume of 657,758 shares, compared to its average volume of 486,814. The business's 50-day moving average is $10.10 and its 200 day moving average is $12.79. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $22.99. The company has a market cap of $580.38 million, a P/E ratio of 38.58 and a beta of 1.54.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. SBI Securities Co. Ltd. bought a new stake in PubMatic in the 4th quarter valued at $27,000. Cubist Systematic Strategies LLC bought a new position in PubMatic in the 4th quarter valued at about $29,000. GAMMA Investing LLC raised its holdings in PubMatic by 23,208.3% in the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company's stock valued at $26,000 after acquiring an additional 2,785 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in PubMatic in the 4th quarter valued at about $57,000. Finally, Tower Research Capital LLC TRC grew its position in shares of PubMatic by 75.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company's stock worth $77,000 after purchasing an additional 2,240 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PUBM shares. Royal Bank of Canada reduced their target price on PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Scotiabank cut their price target on PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Finally, Lake Street Capital lowered their price objective on PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PubMatic has a consensus rating of "Moderate Buy" and an average target price of $19.11.

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.