Key Points
- CEO Rajeev Goel sold 49,980 PubMatic shares at an average price of $16.49, generating $824,170.20. The Rule 10b5-1 transaction reduced his holdings by 75.66% to 16,083 shares.
- PubMatic reported quarterly revenue of $78.59 million and an adjusted loss of $0.03 per share, beating analyst expectations for $68.95 million in revenue and a $0.18-per-share loss.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $18.25 price target; institutional investors own 64.26% of the company.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 49,980 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.49, for a total value of $824,170.20. Following the completion of the transaction, the chief executive officer owned 16,083 shares of the company's stock, valued at $265,208.67. This trade represents a 75.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PubMatic Stock Performance
Shares of PUBM opened at $16.41 on Friday. The stock has a 50-day moving average of $13.77 and a two-hundred day moving average of $10.60. PubMatic, Inc. has a one year low of $6.15 and a one year high of $18.44. The stock has a market cap of $747.48 million, a P/E ratio of -54.70 and a beta of 1.54.
PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Analysts predict that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On PubMatic
Institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP boosted its stake in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company's stock worth $1,692,000 after buying an additional 147,386 shares during the last quarter. Simcoe Capital LLC purchased a new position in PubMatic during the fourth quarter valued at approximately $3,625,000. CenterBook Partners LP raised its position in PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company's stock valued at $10,174,000 after acquiring an additional 398,595 shares in the last quarter. Renaissance Technologies LLC raised its position in PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock valued at $12,602,000 after acquiring an additional 321,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in PubMatic in the first quarter valued at approximately $1,687,000. Hedge funds and other institutional investors own 64.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Wall Street Zen upgraded PubMatic from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. 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 report on Friday, May 8th. Evercore restated an "outperform" rating and set a $21.00 price objective on shares of PubMatic in a research note on Monday, August 10th. Lake Street Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of PubMatic in a report on Friday, August 7th. Finally, Rosenblatt Securities upped their price objective on shares of PubMatic from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, PubMatic has a consensus rating of "Moderate Buy" and a consensus price target of $18.25.
Check Out Our Latest Stock 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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