Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $246,000.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $9.84, for a total transaction of $246,000.00. Following the sale, the chief executive officer now directly owns 8,297 shares of the company’s stock, valued at $81,642.48. The trade was a 75.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rajeev K. Goel also recently made the following trade(s):

• On Tuesday, April 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00.

PubMatic Stock Performance

Shares of PUBM opened at $11.13 on Friday. PubMatic, Inc. has a one year low of $7.46 and a one year high of $24.50. The firm has a market capitalization of $540.11 million, a price-to-earnings ratio of 35.90 and a beta of 1.49. The stock’s fifty day moving average is $9.43 and its 200-day moving average is $13.25.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $63.83 million for the quarter, compared to the consensus estimate of $62.07 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. PubMatic’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Scotiabank reduced their price objective on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada lowered their target price on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Lake Street Capital reduced their price target on shares of PubMatic from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently bought and sold shares of PUBM. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic in the 4th quarter worth approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of PubMatic during the 4th quarter valued at $29,000. GAMMA Investing LLC boosted its stake in shares of PubMatic by 23,208.3% during the 1st quarter. GAMMA Investing LLC now owns 2,797 shares of the company’s stock worth $26,000 after acquiring an additional 2,785 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PubMatic in the 4th quarter worth $57,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of PubMatic by 75.2% during 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 during the last quarter. 64.26% of the stock is currently owned by institutional investors.

PubMatic Company Profile

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.