Rajeev Goel Sells 44,000 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev Goel sold 44,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $7.55, for a total value of $332,200.00. The sale was disclosed in a filing with the SEC, which is available at this link.

PubMatic Trading Down 0.8%

Shares of PUBM opened at $7.73 on Friday. The company’s fifty day simple moving average is $8.72 and its 200 day simple moving average is $9.20. PubMatic, Inc. has a 1-year low of $7.01 and a 1-year high of $17.32. The company has a market cap of $358.83 million, a price-to-earnings ratio of -40.68 and a beta of 1.49.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $67.96 million during the quarter, compared to analysts’ expectations of $63.95 million. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%. As a group, research analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of PUBM. Jane Street Group LLC grew its stake in shares of PubMatic by 55.7% in the first quarter. Jane Street Group LLC now owns 109,423 shares of the company’s stock valued at $1,000,000 after acquiring an additional 39,124 shares in the last quarter. Strs Ohio bought a new stake in PubMatic in the 1st quarter valued at about $284,000. Public Employees Retirement System of Ohio acquired a new position in shares of PubMatic during the 2nd quarter worth approximately $419,000. CWM LLC grew its position in shares of PubMatic by 506.1% during the 2nd quarter. CWM LLC now owns 5,964 shares of the company’s stock worth $74,000 after purchasing an additional 4,980 shares in the last quarter. Finally, Diversified Investment Strategies LLC bought a new position in shares of PubMatic during the second quarter worth approximately $995,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

PUBM has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $14.00 target price on shares of PubMatic in a research note on Monday, January 5th. Rosenblatt Securities lifted their price objective on shares of PubMatic from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Evercore ISI upped their price objective on shares of PubMatic from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Wall Street Zen cut shares of PubMatic from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, B. Riley lifted their target price on shares of PubMatic from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PubMatic presently has a consensus rating of “Hold” and a consensus target price of $12.44.

About PubMatic

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.