PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $183,611.61 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 12,831 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total transaction of $183,611.61. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $322,060.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 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 shares were sold at an average price of $14.03, for a total value of $56,120.00.

PubMatic Trading Down 0.5 %

Shares of PubMatic stock traded down $0.07 on Thursday, hitting $14.36. 307,027 shares of the company traded hands, compared to its average volume of 482,942. PubMatic, Inc. has a 52 week low of $10.92 and a 52 week high of $25.36. The company has a market cap of $717.01 million, a PE ratio of 68.38 and a beta of 1.39. The stock’s 50 day moving average price is $15.86 and its 200-day moving average price is $19.95.

PubMatic (NASDAQ:PUBM) last issued 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. 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 analyst estimates of $70.07 million. During the same period in the previous year, the company posted ($0.11) EPS. PubMatic’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that PubMatic, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Trading of PubMatic

Hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in PubMatic during the 1st quarter valued at about $1,412,000. Inspire Investing LLC purchased a new position in PubMatic in the first quarter worth $1,249,000. Renaissance Technologies LLC increased its position in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of PubMatic by 1,073.9% during the 1st quarter. Russell Investments Group Ltd. now owns 126,037 shares of the company’s stock valued at $2,990,000 after purchasing an additional 115,300 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of PubMatic in the 1st quarter worth $572,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PUBM has been the subject of several research reports. Jefferies Financial Group lowered their price objective on shares of 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 price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company 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. Wolfe Research started coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, B. Riley dropped their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.