Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $17,055.89 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 1,147 shares of PubMatic 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 in the company, valued at $351,229.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, October 3rd, Steven Pantelick sold 12,831 shares of PubMatic stock. The stock was sold at an average price of $14.31, for a total transaction 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 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 Trading Up 2.9 %

Shares of NASDAQ PUBM opened at $14.77 on Friday. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The company has a market cap of $737.48 million, a price-to-earnings ratio of 70.33 and a beta of 1.39. The stock’s 50 day simple moving average is $15.86 and its 200 day simple moving average is $19.95.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The company 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 firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted ($0.11) earnings per share. As a group, equities analysts forecast that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PUBM. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic in the second quarter valued at approximately $29,000. Headlands Technologies LLC bought a new position in PubMatic in the 2nd quarter worth 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 raised 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 acquiring an additional 3,280 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new stake in PubMatic during the 1st quarter valued at $222,000. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PUBM shares. Macquarie reduced their price target 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. Wolfe Research assumed coverage on PubMatic in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price for the company. B. Riley lowered their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group decreased their price objective on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock 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.