Insider Selling: PubMatic (NASDAQ:PUBM) CEO Sells $380,600.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $8.65, for a total value of $380,600.00. Following the transaction, the chief executive officer owned 21,206 shares of the company’s stock, valued at approximately $183,431.90. This trade represents a 67.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PubMatic Trading Up 1.0%

PUBM opened at $9.79 on Friday. The business has a 50 day moving average of $7.85 and a 200-day moving average of $8.25. The stock has a market capitalization of $464.05 million, a price-to-earnings ratio of -31.58 and a beta of 1.48. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $13.88.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. The business had revenue of $80.05 million for the quarter, compared to analyst estimates of $76.12 million. PubMatic had a negative net margin of 5.11% and a negative return on equity of 5.64%. Equities analysts predict that PubMatic, Inc. will post 0.22 EPS for the current year.

Analyst Upgrades and Downgrades

PUBM has been the subject of a number of research analyst reports. Lake Street Capital raised shares of PubMatic from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. B. Riley Financial upgraded PubMatic from a “neutral” rating to a “buy” rating and boosted their price target for the company from $10.00 to $10.50 in a research note on Friday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Friday, March 20th. Wall Street Zen cut PubMatic from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Finally, Wolfe Research reiterated an “outperform” rating and set a $14.00 price target on shares of PubMatic in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.63.

Institutional Trading of PubMatic

Hedge funds have recently modified their holdings of the company. Roubaix Capital LLC bought a new stake in PubMatic during the 3rd quarter worth approximately $2,247,000. Acuitas Investments LLC raised its position in PubMatic by 142.8% in the 3rd quarter. Acuitas Investments LLC now owns 355,651 shares of the company’s stock valued at $2,945,000 after purchasing an additional 209,159 shares during the last quarter. CenterBook Partners LP boosted its stake in PubMatic by 239.0% in the third quarter. CenterBook Partners LP now owns 748,460 shares of the company’s stock worth $6,197,000 after purchasing an additional 527,650 shares in the last quarter. Diversified Trust Co boosted its stake in PubMatic by 20.8% in the first quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock worth $144,000 after purchasing an additional 3,022 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of PubMatic during the fourth quarter worth $110,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

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.