PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $228,500.00 in Stock

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

PubMatic Stock Down 1.4 %

Shares of NASDAQ PUBM opened at $8.25 on Friday. The company has a market capitalization of $400.35 million, a PE ratio of 26.61 and a beta of 1.50. The stock’s 50 day moving average price is $12.44 and its 200-day moving average price is $14.27. PubMatic, Inc. has a twelve month low of $7.90 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last posted 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 return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. As a group, research analysts expect that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

PUBM has been the topic of several research reports. Lake Street Capital lowered their price objective 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. Scotiabank lowered their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.89.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in PubMatic in the third quarter valued at about $170,000. Charles Schwab Investment Management Inc. lifted its stake in PubMatic by 122.5% in the third 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. FMR LLC grew its holdings in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after buying an additional 3,461 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in PubMatic by 17.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after buying an additional 100,479 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

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.