Key Points
- PubMatic CEO Rajeev Goel sold 58,854 shares on July 2 at an average price of $13.68, generating about $805,123. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- After the transaction, Goel owned 47,301 shares, a 55.44% reduction in his position. The stock was trading around $13.52, near its 12-month high of $13.99.
- PubMatic recently beat quarterly expectations, reporting a loss of $0.27 per share versus estimates of $0.32 and revenue of $62.57 million versus $60.42 million expected. Analysts currently have a Moderate Buy consensus with a target price of $12.88.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 5,758 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $78,596.70. Following the completion of the sale, the general counsel directly owned 81,331 shares of the company's stock, valued at $1,110,168.15. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
PubMatic Trading Up 2.1%
PubMatic stock opened at $13.80 on Tuesday. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $13.99. The firm's fifty day simple moving average is $11.12 and its 200-day simple moving average is $9.14. The company has a market capitalization of $640.83 million, a P/E ratio of -36.31 and a beta of 1.51.
PubMatic (NASDAQ:PUBM - Get Free Report) last posted 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. The firm had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. On average, equities research analysts predict that PubMatic, Inc. will post -0.26 earnings per share for the current year.
Institutional Investors Weigh In On PubMatic
Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in PubMatic during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its holdings in PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock valued at $39,000 after acquiring an additional 1,915 shares in the last quarter. State of Wyoming acquired a new position in PubMatic in the 1st quarter valued at approximately $61,000. Tower Research Capital LLC TRC lifted its position in shares of PubMatic by 264.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company's stock worth $61,000 after acquiring an additional 3,541 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of PubMatic by 120.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company's stock worth $73,000 after acquiring an additional 4,856 shares during the period. Institutional investors own 64.26% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on PubMatic from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PubMatic in a research report on Tuesday, April 21st. Rosenblatt Securities restated a "buy" rating and issued a $21.00 price objective on shares of PubMatic in a research note on Thursday, April 23rd. B. Riley Financial reiterated a "buy" rating on shares of PubMatic in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of PubMatic from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and a consensus target price of $12.88.
Get Our Latest Analysis 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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