Rajeev K. Goel Sells 7,500 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.61, for a total transaction of $169,575.00. Following the completion of the sale, the chief executive officer now directly owns 7,712 shares of the company’s stock, valued at $174,368.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PubMatic Stock Up 1.4 %

Shares of PUBM traded up $0.33 during mid-day trading on Thursday, hitting $23.11. 191,669 shares of the company traded hands, compared to its average volume of 459,560. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $24.18. The company has a market capitalization of $1.16 billion, a PE ratio of 153.14 and a beta of 1.52. The business has a 50 day moving average of $22.11 and a 200 day moving average of $17.60.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.15. PubMatic had a net margin of 3.33% and a return on equity of 3.29%. The firm had revenue of $84.60 million for the quarter, compared to the consensus estimate of $78.19 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts expect that PubMatic, Inc. will post 0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PUBM shares. B. Riley started coverage on shares of PubMatic in a report on Friday, April 19th. They issued a “buy” rating and a $27.00 target price for the company. JMP Securities boosted their target price on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 target price on shares of PubMatic in a report on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently modified their holdings of the stock. Cornerstone Investment Partners LLC acquired a new position in shares of PubMatic during the first quarter valued at about $222,000. Harbour Capital Advisors LLC acquired a new position in shares of PubMatic during the first quarter valued at about $266,000. Counterpoint Mutual Funds LLC acquired a new position in shares of PubMatic during the first quarter valued at about $685,000. Los Angeles Capital Management LLC purchased a new stake in PubMatic in the first quarter valued at approximately $1,412,000. Finally, Wellington Management Group LLP boosted its position in PubMatic by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock valued at $5,275,000 after buying an additional 17,497 shares during the last quarter. Institutional investors and hedge funds 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.