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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $9.14, for a total transaction of $228,500.00. Following the completion of the transaction, the chief executive officer now owns 32,304 shares of the company’s stock, valued at $295,258.56. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PubMatic Stock Down 11.1 %

Shares of NASDAQ:PUBM traded down $1.05 during trading on Thursday, reaching $8.37. 755,957 shares of the company traded hands, compared to its average volume of 444,993. The firm has a fifty day simple moving average of $12.58 and a 200 day simple moving average of $14.31. PubMatic, Inc. has a 1-year low of $8.33 and a 1-year high of $25.36. The firm has a market cap of $406.17 million, a P/E ratio of 27.00 and a beta of 1.48.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The business had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. As a group, research analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Royal Bank of Canada dropped their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Lake Street Capital reduced their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.89.

Institutional Investors Weigh In On PubMatic

A number of hedge funds have recently bought and sold shares of PUBM. Wellington Management Group LLP increased its position in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares during the period. Avestar Capital LLC acquired a new stake in shares of PubMatic in the fourth quarter worth $4,701,000. Nordea Investment Management AB increased its position in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after acquiring an additional 269,217 shares during the period. Charles Schwab Investment Management Inc. raised its stake in PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in PubMatic by 263.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock valued at $3,325,000 after purchasing an additional 163,979 shares during the period. 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.