Steven Pantelick Sells 7,846 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 7,846 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total value of $161,941.44. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $464,523.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, July 1st, Steven Pantelick sold 1,225 shares of PubMatic stock. The shares were sold at an average price of $19.90, for a total value of $24,377.50.
• On Monday, April 8th, Steven Pantelick sold 8,876 shares of PubMatic stock. The shares were sold at an average price of $23.71, for a total value of $210,449.96.

PubMatic Stock Up 1.1 %

Shares of PUBM opened at $20.67 on Friday. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The business has a 50-day simple moving average of $21.93 and a two-hundred day simple moving average of $19.90. The stock has a market cap of $1.03 billion, a PE ratio of 98.43 and a beta of 1.44.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $62.19 million. During the same period last year, the company earned ($0.09) earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that PubMatic, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PUBM shares. Royal Bank of Canada upped their target price on PubMatic from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. B. Riley initiated coverage on PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Hedge Funds Weigh In On PubMatic

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of PubMatic during the first quarter worth about $107,000. Public Employees Retirement System of Ohio bought a new position in shares of PubMatic during the third quarter worth about $142,000. SVB Wealth LLC bought a new position in shares of PubMatic during the fourth quarter worth about $163,000. QRG Capital Management Inc. bought a new position in shares of PubMatic during the fourth quarter worth about $191,000. Finally, Arizona State Retirement System raised its position in shares of PubMatic by 9.0% during the fourth quarter. Arizona State Retirement System now owns 11,924 shares of the company’s stock worth $194,000 after acquiring an additional 984 shares during the last quarter. 64.26% of the stock is currently 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.