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 firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PubMatic Stock Performance

NASDAQ PUBM opened at $8.25 on Friday. The firm has a market cap of $400.35 million, a price-to-earnings ratio of 26.61 and a beta of 1.48. The firm has a 50 day simple moving average of $12.44 and a 200-day simple moving average of $14.27. PubMatic, Inc. has a one year low of $7.90 and a one year high of $25.36.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.11). The business 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%. Equities analysts predict that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pitcairn Co. boosted its stake in shares of PubMatic by 7.3% in the 4th quarter. Pitcairn Co. now owns 21,654 shares of the company’s stock valued at $318,000 after buying an additional 1,477 shares during the period. SBI Securities Co. Ltd. acquired a new stake in PubMatic in the fourth quarter valued at approximately $27,000. Cubist Systematic Strategies LLC purchased a new position in PubMatic in the fourth quarter worth approximately $29,000. Principal Financial Group Inc. grew its holdings in PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock worth $370,000 after acquiring an additional 2,234 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of PubMatic by 75.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,220 shares of the company’s stock valued at $77,000 after purchasing an additional 2,240 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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