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 company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $183,611.61. Following the transaction, the chief financial officer now directly owns 22,506 shares in the company, valued at $322,060.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 value of $17,055.89.
• 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 Stock Performance

PUBM opened at $14.77 on Friday. The company has a market cap of $737.48 million, a PE ratio of 70.33 and a beta of 1.39. The stock has a 50-day moving average of $15.86 and a 200-day moving average of $19.95. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (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 company had revenue of $67.27 million during the quarter, compared to the consensus estimate of $70.07 million. During the same quarter in the prior year, the company posted ($0.11) EPS. The firm’s revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that PubMatic, Inc. will post 0.2 earnings per share for the current year.

Institutional Trading of PubMatic

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

Analysts Set New Price Targets

A number of brokerages have commented on PUBM. Wolfe Research began coverage on PubMatic in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Macquarie lowered 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. Raymond James downgraded PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group lowered 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. Finally, Royal Bank of Canada lowered 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

PubMatic Company Profile

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.