Key Points
- CEO Rajeev Goel sold 50,453 PubMatic shares for approximately $930,858, halving his ownership. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- PubMatic reported quarterly revenue of $78.59 million and an adjusted loss of $0.03 per share, beating analyst estimates on both measures.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $19.73 price target; recent targets range as high as $24.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 50,453 shares of PubMatic stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $18.45, for a total value of $930,857.85. Following the completion of the sale, the chief executive officer owned 50,453 shares in the company, valued at approximately $930,857.85. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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
PUBM opened at $18.60 on Friday. The stock has a market capitalization of $847.23 million, a PE ratio of -62.00 and a beta of 1.58. The stock's 50 day moving average price is $15.88 and its 200-day moving average price is $12.32. PubMatic, Inc. has a 52-week low of $6.15 and a 52-week high of $19.19.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The company had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. Research analysts forecast that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.
Wall Street Analyst Weigh In
PUBM has been the subject of several research analyst reports. Wall Street Zen raised shares of PubMatic from a "hold" rating to a "buy" rating in a research report on Saturday. Evercore reiterated an "outperform" rating and set a $21.00 price target on shares of PubMatic in a research report on Monday, August 10th. Jefferies Financial Group increased their price target on shares of PubMatic from $10.00 to $18.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Rosenblatt Securities raised their price objective on shares of PubMatic from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Raymond James Financial raised PubMatic from a "market perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.73.
Read Our Latest Stock Analysis on PUBM
Trending Headlines about PubMatic
Here are the key news stories impacting PubMatic this week:
- Positive Sentiment: Craig Hallum initiated coverage of PubMatic with a “buy” rating and a $24 price target, implying approximately 29% upside from the referenced $18.60 price. The endorsement adds to the bullish momentum surrounding the stock. Craig Hallum initiates coverage of PubMatic
- Positive Sentiment: PubMatic and Silverpush launched global, episode-level contextual CTV audience segments. The offering is designed to help advertisers target viewers based on the specific television content they are watching, potentially expanding PubMatic’s CTV advertising opportunity. Silverpush and PubMatic launch contextual CTV segments PubMatic expands show-level CTV targeting
- Neutral Sentiment: PubMatic was highlighted as a high-volume momentum stock after a reported 6.3% advance. Zacks cautioned that the latest earnings-estimate revision trend may not support continued near-term gains, creating a potential headwind for the rally. Zacks analysis of PubMatic momentum
- Neutral Sentiment: Reported short interest stood at zero shares as of September 24, with a zero-day days-to-cover ratio. This suggests little measurable short-selling pressure, but also means limited potential for a short-squeeze-driven catalyst.
- Negative Sentiment: CEO Rajeev Goel sold 50,453 shares for approximately $930,858, reducing his ownership by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, which somewhat reduces its significance as a discretionary bearish signal, but insider selling can still weigh on sentiment. PubMatic CEO SEC Form 4 filing
Institutional Trading of PubMatic
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in shares of PubMatic by 75.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company's stock worth $39,000 after acquiring an additional 1,915 shares in the last quarter. Versant Capital Management Inc lifted its position in PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company's stock valued at $140,000 after acquiring an additional 2,482 shares during the period. Diversified Trust Co boosted its stake in PubMatic by 20.8% during the first quarter. Diversified Trust Co now owns 17,564 shares of the company's stock worth $144,000 after acquiring an additional 3,022 shares in the last quarter. WINTON GROUP Ltd boosted its stake in PubMatic by 28.0% during the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company's stock worth $222,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in PubMatic by 12.2% in the fourth quarter. Hsbc Holdings PLC now owns 64,590 shares of the company's stock worth $573,000 after purchasing an additional 7,034 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.
PubMatic Company Profile
(
Get Free Report)
PubMatic, Inc (NASDAQ: PUBM) operates a cloud infrastructure platform that helps digital publishers and app developers manage and monetize advertising inventory. Its sell-side platform connects publishers with advertisers, agencies and demand-side platforms, enabling automated buying and selling of digital advertising.
The company's solutions support advertising across the open internet, including websites, mobile applications, connected television, online video and digital out-of-home environments.
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