Key Points
- CEO Rajeev Goel sold 49,979 PubMatic shares at an average price of $12.35, generating approximately $617,241. The Rule 10b5-1 transaction reduced his ownership by 61.2%, leaving him with 31,692 shares.
- PubMatic’s shares opened at $13.03, compared with a 52-week range of $6.15 to $14.04. The company recently beat quarterly revenue and adjusted EPS expectations, reporting $62.57 million in revenue and an EPS loss of $0.27.
- Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $12.88, while institutional investors own 64.26% of the company.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 49,979 shares of PubMatic stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $12.35, for a total transaction of $617,240.65. Following the completion of the transaction, the chief executive officer owned 31,692 shares of the company's stock, valued at $391,396.20. This represents a 61.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PubMatic Price Performance
Shares of PUBM stock opened at $13.03 on Wednesday. The stock has a market capitalization of $605.11 million, a price-to-earnings ratio of -34.29 and a beta of 1.51. The company's fifty day simple moving average is $12.16 and its two-hundred day simple moving average is $9.62. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $14.04.
PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $0.05. PubMatic had a negative return on equity of 6.98% and a negative net margin of 6.21%.The firm had revenue of $62.57 million during the quarter, compared to analyst estimates of $60.42 million. Equities research analysts anticipate that PubMatic, Inc. will post -0.26 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have commented on PUBM. Weiss Ratings restated a "sell (d)" rating on shares of PubMatic in a research note on Friday, July 17th. Wall Street Zen upgraded PubMatic from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Royal Bank Of Canada increased their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. B. Riley Financial restated a "buy" rating on shares of PubMatic in a research report on Friday, May 8th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.88.
Read Our Latest Report on PUBM
Institutional Trading of PubMatic
Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its position in shares of PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company's stock valued at $8,144,000 after acquiring an additional 699,549 shares during the last quarter. Simcoe Capital LLC bought a new position in shares of PubMatic in the fourth quarter worth approximately $3,625,000. CenterBook Partners LP increased its position in shares of PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock worth $10,174,000 after purchasing an additional 398,595 shares during the last quarter. Renaissance Technologies LLC raised its stake in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock valued at $12,602,000 after purchasing an additional 321,200 shares in the last quarter. Finally, UBS Group AG raised its stake in PubMatic by 254.7% in the third quarter. UBS Group AG now owns 422,630 shares of the company's stock valued at $3,499,000 after purchasing an additional 303,479 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company's stock.
PubMatic Company Profile
(
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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