Key Points
- PubMatic CEO Rajeev Goel sold 44,000 shares on Tuesday for about $458,040, reducing his direct ownership by 67.48%. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- PUBM shares rose 4.8% and opened at $11.05, with the stock trading between a 12-month low of $6.15 and high of $13.88. The company has a market cap of about $513 million.
- PubMatic beat quarterly expectations, reporting a smaller-than-expected loss of $0.27 per share and revenue of $62.57 million versus estimates of $60.42 million. Analysts currently rate the stock a consensus Moderate Buy with an average target price of $12.88.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 44,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $10.41, for a total transaction of $458,040.00. Following the transaction, the chief executive officer directly owned 21,206 shares of the company's stock, valued at $220,754.46. This represents a 67.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PubMatic Stock Up 4.8%
Shares of PUBM opened at $11.05 on Thursday. The stock has a market capitalization of $513.16 million, a P/E ratio of -29.08 and a beta of 1.54. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $13.88. The company has a 50 day moving average of $9.24 and a 200-day moving average of $8.56.
PubMatic (NASDAQ:PUBM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.05. The company had revenue of $62.57 million during the quarter, compared to analysts' expectations of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. On average, sell-side analysts anticipate that PubMatic, Inc. will post -0.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On PubMatic
A number of institutional investors and hedge funds have recently made changes to their positions in PUBM. Jane Street Group LLC raised its stake in shares of PubMatic by 55.7% during the 1st quarter. Jane Street Group LLC now owns 109,423 shares of the company's stock worth $1,000,000 after purchasing an additional 39,124 shares in the last quarter. Creative Planning bought a new stake in shares of PubMatic during the 2nd quarter worth approximately $269,000. Rhumbline Advisers raised its stake in shares of PubMatic by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 65,840 shares of the company's stock worth $819,000 after purchasing an additional 5,828 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of PubMatic by 15.0% during the 2nd quarter. Hsbc Holdings PLC now owns 46,637 shares of the company's stock worth $596,000 after purchasing an additional 6,066 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of PubMatic by 10.0% during the 2nd quarter. Invesco Ltd. now owns 81,994 shares of the company's stock worth $1,020,000 after purchasing an additional 7,468 shares in the last quarter. Institutional investors own 64.26% of the company's stock.
Analyst Ratings Changes
PUBM has been the subject of several research reports. Royal Bank Of Canada raised their price target 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. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a research note on Tuesday, April 21st. Rosenblatt Securities reaffirmed a "buy" rating and set a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Wall Street Zen raised shares of PubMatic from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Lake Street Capital raised PubMatic from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.88.
View Our Latest Report on PUBM
About PubMatic
(
Get Free Report)
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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