Rajeev K. Goel Sells 25,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.46, for a total value of $361,500.00. Following the transaction, the chief executive officer now owns 24,222 shares of the company’s stock, valued at approximately $350,250.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Trading Up 2.9 %

PUBM opened at $14.77 on Friday. The firm has a market cap of $737.48 million, a price-to-earnings ratio of 70.33 and a beta of 1.39. PubMatic, Inc. has a 12 month low of $10.92 and a 12 month high of $25.36. The stock has a fifty day moving average price of $15.86 and a 200-day moving average price of $19.95.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $67.27 million during the quarter, compared to analyst estimates of $70.07 million. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. On average, equities research analysts forecast that PubMatic, Inc. will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new position in PubMatic during the 2nd quarter valued at about $6,582,000. Acadian Asset Management LLC increased its position in PubMatic by 28,255.4% during the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after buying an additional 290,465 shares in the last quarter. Renaissance Technologies LLC increased its position in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after buying an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in PubMatic by 92.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after buying an additional 211,520 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in PubMatic during the 1st quarter valued at about $4,711,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PUBM has been the subject of a number of research analyst reports. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Wolfe Research initiated coverage on PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price for the company. B. Riley decreased their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada decreased their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group decreased their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.