PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 7,500 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 7,500 shares of PubMatic stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.61, for a total transaction of $169,575.00. Following the transaction, the chief executive officer now owns 7,712 shares in the company, valued at approximately $174,368.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PubMatic Price Performance

PubMatic stock opened at $23.43 on Friday. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $24.18. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 156.21 and a beta of 1.52. The firm’s fifty day moving average price is $22.25 and its 200 day moving average price is $17.64.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts forecast that PubMatic, Inc. will post 0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several recent research reports. B. Riley initiated coverage on shares of PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of PubMatic in a report on Monday, March 25th. Finally, JMP Securities lifted their target price on shares of PubMatic from $18.00 to $25.00 and gave the company a “market outperform” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUBM. Dimensional Fund Advisors LP increased its position in shares of PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock worth $25,366,000 after purchasing an additional 228,190 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PubMatic by 8.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock worth $7,113,000 after purchasing an additional 35,286 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after purchasing an additional 17,497 shares during the last quarter. Merit Financial Group LLC increased its position in shares of PubMatic by 9.1% in the 4th quarter. Merit Financial Group LLC now owns 175,896 shares of the company’s stock worth $2,869,000 after purchasing an additional 14,703 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of PubMatic by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 174,092 shares of the company’s stock worth $2,107,000 after purchasing an additional 1,489 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

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.