Key Points
- PubMatic CEO Rajeev Goel sold 50,021 shares at an average price of $17.26, generating approximately $863,000. The Rule 10b5-1 transaction reduced his ownership by 61.15% to 31,774 shares.
- PubMatic’s latest quarterly results exceeded expectations, with adjusted EPS of $(0.03) versus the consensus estimate of $(0.18) and revenue of $78.59 million versus estimates of $68.95 million.
- Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and a $19.73 average price target, while institutional investors own 64.26% of the company.
PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev Goel sold 50,021 shares of the company's stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $17.26, for a total transaction of $863,362.46. Following the completion of the transaction, the chief executive officer owned 31,774 shares of the company's stock, valued at $548,419.24. This trade represents a 61.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
PubMatic Trading Up 0.4%
NASDAQ:PUBM opened at $17.24 on Friday. The company has a 50-day moving average price of $17.39 and a 200-day moving average price of $13.71. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $19.48. The stock has a market cap of $785.28 million, a price-to-earnings ratio of -57.46 and a beta of 1.56.
PubMatic (NASDAQ:PUBM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $68.95 million. Equities analysts forecast that PubMatic, Inc. will post -0.09 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Wall Street Zen cut PubMatic from a "buy" rating to a "hold" rating in a research report on Saturday. Evercore reiterated an "outperform" rating and set a $21.00 target price on shares of PubMatic in a report on Monday, August 10th. 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 report on Friday, August 7th. Citigroup restated an "outperform" rating on shares of PubMatic in a research note on Friday, August 7th. Finally, Rosenblatt Securities increased their price objective on PubMatic from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PubMatic currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.73.
Check Out Our Latest Analysis on PUBM
Institutional Trading of PubMatic
A number of hedge funds have recently made changes to their positions in PUBM. Caitong International Asset Management Co. Ltd boosted its position 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 purchasing an additional 1,915 shares in the last quarter. State of Wyoming purchased a new stake in shares of PubMatic in the 1st quarter worth approximately $61,000. Versant Capital Management Inc increased 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 buying an additional 2,482 shares in the last quarter. Sei Investments Co. bought a new position in PubMatic during the 1st quarter valued at approximately $129,000. Finally, WINTON GROUP Ltd increased its position in PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company's stock valued at $222,000 after buying an additional 3,700 shares in the last quarter. 64.26% of the stock is owned by institutional investors.
PubMatic Company Profile
(
Get Free Report)
PubMatic, Inc is a cloud infrastructure and digital advertising technology company that provides solutions for the programmatic advertising industry. Its platform helps publishers, app developers and content creators manage and monetize advertising inventory across websites, mobile applications, connected television and other digital channels.
The company operates primarily as a sell-side platform, connecting publishers with advertisers, agencies and demand-side platforms. Its offerings include tools for real-time bidding, yield management, audience targeting, identity solutions, supply-path optimization and header bidding.
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