Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells 1,147 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 1,147 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.87, for a total value of $17,055.89. Following the sale, the chief financial officer now owns 23,620 shares of the company’s stock, valued at approximately $351,229.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 Up 0.2 %

PUBM traded up $0.03 on Wednesday, hitting $14.43. 358,516 shares of the company traded hands, compared to its average volume of 483,867. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The company has a 50 day moving average of $16.02 and a 200-day moving average of $19.99. The stock has a market capitalization of $715.44 million, a PE ratio of 68.72 and a beta of 1.40.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 EPS 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 analysts’ expectations of $70.07 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that PubMatic, Inc. will post 0.2 EPS for the current year.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently bought and sold shares of PUBM. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter valued at about $6,582,000. Acadian Asset Management LLC increased its position 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 purchasing an additional 290,465 shares during the period. Renaissance Technologies LLC raised its stake in shares of PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after buying an additional 265,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PubMatic by 17.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,555,199 shares of the company’s stock valued at $25,366,000 after buying an additional 228,190 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of PubMatic by 92.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 440,127 shares of the company’s stock valued at $10,440,000 after buying an additional 211,520 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

PUBM has been the topic of several research analyst reports. Jefferies Financial Group cut their price target 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. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. B. Riley decreased their target price on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wolfe Research began coverage on PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Macquarie lowered their target price on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently 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.