PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $57,800.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $14.45, for a total value of $57,800.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $325,211.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Steven Pantelick also recently made the following trade(s):

• On Thursday, October 3rd, Steven Pantelick sold 12,831 shares of PubMatic stock. The shares were sold at an average price of $14.31, for a total value of $183,611.61.
• On Tuesday, October 1st, Steven Pantelick sold 1,147 shares of PubMatic stock. The stock was sold at an average price of $14.87, for a total value of $17,055.89.
• On Tuesday, September 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were sold at an average price of $15.21, for a total transaction of $60,840.00.
• On Tuesday, August 13th, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $14.03, for a total transaction of $56,120.00.

PubMatic Stock Performance

Shares of PUBM opened at $15.84 on Thursday. The stock has a market capitalization of $785.35 million, a PE ratio of 44.00 and a beta of 1.39. The company’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $18.60. PubMatic, Inc. has a 1 year low of $11.79 and a 1 year high of $25.36.

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. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The company had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $70.07 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Institutional Trading of PubMatic

Several hedge funds have recently modified their holdings of PUBM. Millennium Management LLC purchased a new stake in PubMatic during the 2nd quarter worth about $6,582,000. Acadian Asset Management LLC increased its stake in shares of PubMatic by 28,255.4% during the second 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 during the period. Renaissance Technologies LLC raised its holdings in PubMatic by 28.8% in 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in PubMatic by 92.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock worth $10,440,000 after acquiring an additional 211,520 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in PubMatic during the 1st quarter worth approximately $4,711,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PUBM shares. B. Riley cut their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group cut their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada decreased their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Wolfe Research began coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Macquarie decreased their price objective on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.