PubMatic (NASDAQ:PUBM) Chairman Sells 6,584 Shares

PubMatic, Inc. (NASDAQ:PUBM – Get Free Report) Chairman Amar Goel sold 6,584 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $13.65, for a total transaction of $89,871.60. Following the sale, the chairman directly owned 35,580 shares in the company, valued at $485,667. The trade was a 15.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

PubMatic Stock Performance

Shares of PUBM traded down $0.03 during trading hours on Monday, hitting $13.52. The stock had a trading volume of 433,149 shares, compared to its average volume of 704,710. The firm has a 50-day moving average price of $11.04 and a 200 day moving average price of $9.11. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.99. The firm has a market capitalization of $627.91 million, a price-to-earnings ratio of -35.58 and a beta of 1.51.

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PubMatic (NASDAQ:PUBM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The company had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. As a group, analysts predict that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after buying an additional 147,386 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock worth $12,602,000 after buying an additional 321,200 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PubMatic during the first quarter worth about $1,687,000. Finally, Sei Investments Co. acquired a new position in PubMatic during the first quarter worth about $129,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PUBM has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Thursday, April 23rd. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PubMatic has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Read Our Latest Analysis on PUBM

About PubMatic

(Get Free Report)

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.

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