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

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 7,500 shares of the firm’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 sale, the chief executive officer now owns 7,712 shares of the company’s stock, valued at approximately $174,368.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PubMatic Price Performance

Shares of PUBM traded up $0.33 during trading hours on Thursday, hitting $23.11. The company’s stock had a trading volume of 191,669 shares, compared to its average volume of 459,560. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 153.14 and a beta of 1.52. The business has a 50 day simple moving average of $22.11 and a two-hundred day simple moving average of $17.60. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $24.18.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.34 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 company had revenue of $84.60 million during the quarter, compared to analysts’ expectations of $78.19 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. PubMatic’s revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts predict that PubMatic, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. B. Riley assumed coverage on shares of PubMatic in a report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective for the company. JMP Securities lifted their target price on shares of PubMatic from $18.00 to $25.00 and gave the stock a “market outperform” rating in a research note 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 research note on Monday, March 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

Institutional Investors Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of PUBM. Guinness Atkinson Asset Management Inc lifted its position in PubMatic by 48.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 3,032 shares of the company’s stock valued at $37,000 after purchasing an additional 992 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in PubMatic during the third quarter valued at approximately $68,000. Public Employees Retirement System of Ohio bought a new stake in shares of PubMatic in the 3rd quarter worth approximately $142,000. Quantbot Technologies LP bought a new stake in shares of PubMatic in the 3rd quarter worth approximately $154,000. Finally, SVB Wealth LLC bought a new stake in shares of PubMatic in the 4th quarter worth approximately $163,000. 64.26% of the stock is currently owned by institutional investors.

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.