Steven Pantelick Sells 12,831 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 12,831 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $183,611.61. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $322,060.86. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 transaction 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 value of $56,120.00.

PubMatic Stock Performance

Shares of PUBM stock traded down $0.07 during trading hours on Thursday, reaching $14.36. The company had a trading volume of 307,027 shares, compared to its average volume of 482,942. The business has a fifty day moving average price of $15.86 and a 200-day moving average price of $19.95. PubMatic, Inc. has a one year low of $10.92 and a one year high of $25.36. The firm has a market cap of $717.01 million, a PE ratio of 68.38 and a beta of 1.39.

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

Analyst Upgrades and Downgrades

Several research firms have commented on PUBM. 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. 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 report on Friday, August 9th. B. Riley reduced 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. Raymond James downgraded shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of PubMatic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,254,391 shares of the company’s stock valued at $100,914,000 after purchasing an additional 22,713 shares during the last quarter. Renaissance Technologies LLC raised its position in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of PubMatic by 92.5% during the 1st 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. Millennium Management LLC bought a new stake in shares of PubMatic during the 2nd quarter valued at $6,582,000. Finally, Wellington Management Group LLP increased its stake in shares of PubMatic by 5.7% in the 4th quarter. Wellington Management Group LLP now owns 323,397 shares of the company’s stock worth $5,275,000 after purchasing an additional 17,497 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

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.