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 company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 directly owns 32,304 shares of the company’s stock, valued at $295,258.56. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Trading Down 1.4 %

Shares of PUBM stock opened at $8.25 on Friday. The company has a market capitalization of $400.35 million, a P/E ratio of 26.61 and a beta of 1.48. The business’s 50 day moving average is $12.44 and its two-hundred day moving average 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 analysts’ consensus estimates of $0.37 by ($0.11). The firm had revenue of $85.50 million during the quarter, compared to analysts’ expectations of $88.24 million. PubMatic had a net margin of 5.96% and a return on equity of 6.12%. As a group, equities analysts predict that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Avestar Capital LLC purchased a new stake in shares of PubMatic in the fourth quarter valued at approximately $4,701,000. Nordea Investment Management AB raised its position in PubMatic by 377.4% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 acquiring an additional 239,406 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of PubMatic by 263.0% during the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after purchasing an additional 163,979 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PUBM has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada decreased their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Lake Street Capital cut their target price on PubMatic from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Scotiabank dropped their price target 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.89.

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.