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 firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total value of $183,611.61. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares in the company, valued at approximately $322,060.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 value of $17,055.89.
• On Tuesday, September 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $15.21, for a total value 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 opened at $14.77 on Friday. PubMatic, Inc. has a 1 year low of $10.92 and a 1 year high of $25.36. The stock has a market cap of $737.48 million, a PE ratio of 70.33 and a beta of 1.39. The business’s fifty day moving average is $15.86 and its 200-day moving average is $19.95.

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

Analysts Set New Price Targets

PUBM has been the topic of several recent analyst reports. B. Riley cut their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Raymond James downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Macquarie cut their target price on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Jefferies Financial Group cut their target price on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently modified their holdings of the stock. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic during the second quarter worth $29,000. Headlands Technologies LLC acquired a new stake in shares of PubMatic during the second quarter worth $38,000. SG Americas Securities LLC acquired a new stake in shares of PubMatic during the first quarter worth $107,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of PubMatic during the first quarter worth $222,000. 64.26% of the stock is owned by institutional investors and hedge funds.

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.