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, 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 Securities & Exchange Commission, which is available through the SEC website.

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 stock was sold at an average price of $20.08, for a total transaction of $502,000.00.

PubMatic Stock Performance

NASDAQ PUBM opened at $15.29 on Friday. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36. The business’s fifty day moving average is $18.45 and its two-hundred day moving average is $20.70. The stock has a market capitalization of $758.08 million, a P/E ratio of 72.81 and a beta of 1.41.

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

Analyst Upgrades and Downgrades

PUBM has been the topic of a number of recent analyst reports. B. Riley cut their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada cut their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Jefferies Financial Group decreased their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Wolfe Research initiated coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versor Investments LP lifted its position in shares of PubMatic by 16.0% in the 4th quarter. Versor Investments LP now owns 22,247 shares of the company’s stock valued at $363,000 after acquiring an additional 3,073 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of PubMatic in the fourth quarter valued at $191,000. Dimensional Fund Advisors LP lifted its holdings in shares of PubMatic by 17.2% in the fourth 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 in the last quarter. Principal Financial Group Inc. boosted its position in shares of PubMatic by 22.3% in the fourth quarter. Principal Financial Group Inc. now owns 26,418 shares of the company’s stock worth $431,000 after buying an additional 4,810 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of PubMatic by 28.5% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 90,142 shares of the company’s stock valued at $1,470,000 after buying an additional 20,000 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.