Steven Pantelick Sells 1,147 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

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

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

• On Thursday, October 3rd, Steven Pantelick sold 12,831 shares of PubMatic stock. The shares were sold at an average price of $14.31, for a total value of $183,611.61.
• 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 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 opened at $14.36 on Friday. The business’s 50 day simple moving average is $15.86 and its 200-day simple moving average is $19.95. The stock has a market capitalization of $717.01 million, a price-to-earnings ratio of 68.38 and a beta of 1.39. PubMatic, Inc. has a twelve month low of $10.92 and a twelve month high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share 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 business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. Sell-side analysts predict that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Institutional Trading of PubMatic

Several large investors have recently added to or reduced their stakes in PUBM. Redwood Wealth Management Group LLC acquired a new stake in PubMatic in the 2nd quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new stake in PubMatic in the 2nd quarter valued at approximately $38,000. SG Americas Securities LLC acquired a new stake in PubMatic in the 1st quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PubMatic by 56.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after acquiring an additional 3,280 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in PubMatic in the 1st quarter valued at approximately $222,000. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PUBM has been the topic of several research reports. Macquarie cut their price objective 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 initiated coverage on PubMatic in a research note on Tuesday, July 16th. They set an “outperform” rating and a $25.00 price objective on the stock. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. B. Riley cut their price objective on PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Jefferies Financial Group cut their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus 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.