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 dated Tuesday, September 3rd. The shares were sold at an average price of $15.25, for a total value of $381,250.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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 Down 5.1 %

PUBM stock opened at $14.51 on Friday. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36. The stock has a market capitalization of $724.50 million, a price-to-earnings ratio of 69.10 and a beta of 1.40. The firm’s fifty day simple moving average is $18.33 and its two-hundred day simple moving average is $20.68.

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

Wall Street Analyst Weigh In

PUBM has been the topic of a number of research reports. Wolfe Research started coverage on shares of PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Macquarie decreased their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price target 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. Finally, B. Riley dropped their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Redwood Wealth Management Group LLC purchased a new stake in PubMatic in the second quarter worth $29,000. Headlands Technologies LLC bought a new position in shares of PubMatic in the second quarter worth about $38,000. SG Americas Securities LLC purchased a new position in PubMatic in the 1st quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after buying an additional 3,280 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in PubMatic during the 1st quarter valued at about $222,000. 64.26% of the stock is owned by institutional investors.

About PubMatic

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.