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 Monday, June 8th. The stock was sold at an average price of $11.33, for a total transaction of $498,520.00. Following the sale, the chief executive officer owned 21,206 shares in the company, valued at $240,263.98. This trade represents a 67.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PubMatic Stock Performance
Shares of PUBM stock opened at $11.51 on Wednesday. The company has a market capitalization of $534.52 million, a P/E ratio of -30.29 and a beta of 1.57. The company's 50 day moving average price is $9.88 and its two-hundred day moving average price is $8.72. PubMatic, Inc. has a 52 week low of $6.15 and a 52 week high of $13.88.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping 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 firm had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. Analysts forecast that PubMatic, Inc. will post -0.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PUBM has been the topic of a number of research reports. Rosenblatt Securities reissued a "buy" rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. Royal Bank Of Canada boosted their price objective on shares of PubMatic from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Lake Street Capital raised shares of PubMatic from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "sell (d)" rating on shares of PubMatic in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of PubMatic from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. One research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $12.88.
Check Out Our Latest Stock Report on PubMatic
Hedge Funds Weigh In On PubMatic
Institutional investors have recently added to or reduced their stakes in the company. Roubaix Capital LLC acquired a new position in PubMatic during the third quarter worth $2,247,000. Acuitas Investments LLC increased its holdings in PubMatic by 142.8% during the third quarter. Acuitas Investments LLC now owns 355,651 shares of the company's stock worth $2,945,000 after buying an additional 209,159 shares during the last quarter. CenterBook Partners LP increased its holdings in PubMatic by 239.0% during the third quarter. CenterBook Partners LP now owns 748,460 shares of the company's stock worth $6,197,000 after buying an additional 527,650 shares during the last quarter. Simcoe Capital LLC acquired a new position in PubMatic during the fourth quarter worth $3,625,000. Finally, Allworth Financial LP increased its holdings in PubMatic by 12,839.7% during the fourth quarter. Allworth Financial LP now owns 25,103 shares of the company's stock worth $223,000 after buying an additional 24,909 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.
About PubMatic
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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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