Rajeev K. Goel Sells 25,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

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

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 transaction of $228,500.00.

PubMatic Stock Up 0.8%

PubMatic stock traded up $0.10 during trading on Friday, reaching $12.06. The stock had a trading volume of 571,030 shares, compared to its average volume of 488,304. PubMatic, Inc. has a 52-week low of $7.46 and a 52-week high of $22.99. The business has a 50 day moving average price of $10.21 and a 200 day moving average price of $12.75. The stock has a market cap of $585.24 million, a PE ratio of 38.90 and a beta of 1.54.

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

Wall Street Analyst Weigh In

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

Institutional Trading of PubMatic

A number of hedge funds have recently made changes to their positions in PUBM. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic during the fourth quarter valued at about $27,000. JPMorgan Chase & Co. lifted its stake in PubMatic by 263.0% in the fourth quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company's stock valued at $3,325,000 after acquiring an additional 163,979 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 buying an additional 2,240 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock worth $370,000 after buying an additional 2,234 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock valued at $22,531,000 after purchasing an additional 84,317 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

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.