Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $228,500.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total value of $228,500.00. Following the sale, the chief executive officer now directly owns 32,304 shares in the company, valued at $295,258.56. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Performance

PubMatic stock opened at $8.25 on Friday. The firm has a 50 day moving average price of $12.44 and a two-hundred day moving average price of $14.27. PubMatic, Inc. has a 52-week low of $7.90 and a 52-week high of $25.36. The firm has a market cap of $400.35 million, a price-to-earnings ratio of 26.61 and a beta of 1.50.

PubMatic (NASDAQ:PUBM) last released its earnings results on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. As a group, equities research analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Several large investors have recently added to or reduced their stakes in PUBM. SBI Securities Co. Ltd. acquired a new position in PubMatic in the fourth quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new position in shares of PubMatic during the 4th quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in PubMatic during the fourth quarter worth $57,000. FMR LLC grew its holdings in PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in PubMatic by 75.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PUBM shares. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Scotiabank lowered their target price on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th. Finally, Lake Street Capital lowered their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.89.

About PubMatic

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.