Key Points
- PubMatic CFO Steven Pantelick sold 22,173 shares for approximately $413,748 at an average price of $18.66, reducing his holdings by 68.17% to 10,353 shares. The transaction was executed under a pre-arranged Rule 10b5-1 plan, and follows several other recent sales.
- PubMatic reported stronger-than-expected quarterly results, with revenue of $78.59 million versus the $68.95 million consensus estimate and an adjusted loss of $0.03 per share compared with expectations of $0.18. Shares opened at $18.35 and remain near their one-year high of $19.48.
- Analyst sentiment remains positive: 11 of 13 analysts rate the stock Buy, producing a “Moderate Buy” consensus and an average price target of $19.73. Institutional investors own approximately 64.26% of the company, while recent partnerships are expanding its connected-TV and international advertising opportunities.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) General Counsel Andrew Woods sold 10,079 shares of the company's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $18.65, for a total transaction of $187,973.35. Following the completion of the transaction, the general counsel directly owned 39,761 shares in the company, valued at $741,542.65. The trade was a 20.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Andrew Woods also recently made the following trade(s):
- On Friday, October 2nd, Andrew Woods sold 5,744 shares of PubMatic stock. The stock was sold at an average price of $18.97, for a total transaction of $108,963.68.
- On Monday, August 10th, Andrew Woods sold 38,331 shares of PubMatic stock. The shares were sold at an average price of $17.96, for a total transaction of $688,424.76.
PubMatic Stock Performance
PubMatic stock opened at $18.35 on Wednesday. The company's 50 day simple moving average is $16.70 and its 200-day simple moving average is $12.86. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $19.48. The company has a market capitalization of $835.84 million, a price-to-earnings ratio of -61.16 and a beta of 1.56.
PubMatic (NASDAQ:PUBM - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.15. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. The firm had revenue of $78.59 million during the quarter, compared to analysts' expectations of $68.95 million. Equities analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current year.
More PubMatic News
Here are the key news stories impacting PubMatic this week:
- Positive Sentiment: Sony Pictures partnership expands PubMatic’s connected-TV opportunity: Sony Pictures Entertainment named PubMatic its preferred programmatic advertising partner for Live TV on PS5. The agreement gives PubMatic access to advertising inventory connected with Sony’s gaming and entertainment ecosystem, potentially increasing ad impressions, demand from advertisers and future revenue. Sony Pictures Entertainment Names PubMatic Its Preferred Programmatic Advertising Partner PubMatic named ad partner for Live TV on PS5
- Positive Sentiment: International advertising momentum: PubMatic and The Media Shop launched what they describe as Southeast Asia’s first agentic luxury advertising campaign. The deployment showcases PubMatic’s AI-enabled and programmatic capabilities and could support broader adoption among agencies and premium advertisers. The Media Shop and PubMatic Launch Southeast Asia’s First Agentic Luxury Campaign
- Neutral Sentiment: Analyst view remains favorable: Wall Street brokerages maintain a consensus “Moderate Buy” rating on PUBM. This may support sentiment, although the stock is trading near the upper end of its recent range and the consensus target provides less upside than earlier in the rally. PubMatic Stock Rated Moderate Buy by Wall Street Brokerages
- Negative Sentiment: Multiple executives sold shares: CEO Rajeev Goel, CFO Steven Pantelick, Chairman Amar Goel and General Counsel Andrew Woods reported additional sales totaling more than $1.2 million on October 5. The trades were conducted under pre-arranged Rule 10b5-1 plans, which reduces their significance as a bearish signal, but the sizable reductions in executive ownership can nevertheless weigh on investor confidence and increase near-term supply. PubMatic executive insider sale SEC filing
Analysts Set New Price Targets
PUBM has been the subject of a number of research reports. Craig Hallum began coverage on PubMatic in a research note on Thursday, September 24th. They issued a "buy" rating and a $24.00 price objective for the company. Citizens Jmp increased their target price on PubMatic from $12.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Citigroup restated an "outperform" rating on shares of PubMatic in a report on Friday, August 7th. Jefferies Financial Group lifted their target price on PubMatic from $10.00 to $18.00 and gave the company a "hold" rating in a research report on Tuesday, August 11th. Finally, Scotiabank upgraded shares of PubMatic from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.73.
Check Out Our Latest Stock Report on PUBM
Hedge Funds Weigh In On PubMatic
Several institutional investors have recently modified their holdings of PUBM. Quantinno Capital Management LP raised 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 valued at $1,692,000 after acquiring an additional 147,386 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in PubMatic during the 2nd quarter worth $872,000. Renaissance Technologies LLC grew its stake in PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company's stock worth $12,602,000 after purchasing an additional 321,200 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in PubMatic during the 2nd quarter worth about $1,595,000. Finally, CenterBook Partners LP increased its holdings in PubMatic by 53.3% during the 4th 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 period. Institutional investors and hedge funds own 64.26% of the company's stock.
About PubMatic
(
Get Free Report)
PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.
The company's platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.
Further Reading
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