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 PubMatic stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total value of $381,250.00. The sale was disclosed in a filing with the SEC, which is available at this link.

Rajeev K. Goel also recently made the following trade(s):

• On Monday, July 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The shares were sold at an average price of $20.08, for a total value of $502,000.00.

PubMatic Trading Up 1.5 %

PubMatic stock opened at $15.29 on Friday. The firm has a 50 day simple moving average of $18.45 and a 200 day simple moving average of $20.70. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a market capitalization of $758.08 million, a price-to-earnings ratio of 72.81 and a beta of 1.41.

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

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Vanguard Group Inc. grew its stake in PubMatic by 0.5% during the first quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after acquiring an additional 22,713 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after purchasing an additional 228,190 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 265,700 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of PubMatic by 92.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after purchasing an additional 211,520 shares during the period. Finally, Millennium Management LLC bought a new position in shares of PubMatic in the second quarter worth $6,582,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. B. Riley reduced their target price on shares of 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 lowered their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Macquarie reduced their price objective on PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Jefferies Financial Group lowered their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $21.00.

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.