Rajeev K. Goel Sells 19,892 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 19,892 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $14.44, for a total value of $287,240.48. Following the sale, the chief executive officer now owns 4,330 shares in the company, valued at approximately $62,525.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, October 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The stock was sold at an average price of $14.46, for a total value of $361,500.00.

PubMatic Trading Up 6.7 %

NASDAQ PUBM opened at $15.84 on Thursday. The stock has a market capitalization of $785.35 million, a price-to-earnings ratio of 44.00 and a beta of 1.39. The stock has a 50-day moving average of $14.80 and a 200 day moving average of $18.60. PubMatic, Inc. has a twelve month low of $11.79 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. PubMatic had a return on equity of 6.92% and a net margin of 7.08%. The business had revenue of $67.27 million during the quarter, compared to the consensus estimate of $70.07 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts predict that PubMatic, Inc. will post 0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently added to or reduced their stakes in PUBM. Millennium Management LLC acquired a new stake in shares of PubMatic in the second quarter valued at about $6,582,000. Acadian Asset Management LLC increased its stake in PubMatic by 28,255.4% during the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after buying an additional 290,465 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position 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 valued at $10,440,000 after acquiring an additional 211,520 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of PubMatic in the first quarter worth approximately $4,711,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PUBM has been the topic of several research reports. Wolfe Research began 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. Jefferies Financial Group cut their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada cut their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, Macquarie dropped their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Three 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 a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.