PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $56,120.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $14.03, for a total transaction of $56,120.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $315,759.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, July 3rd, Steven Pantelick sold 7,846 shares of PubMatic stock. The shares were sold at an average price of $20.64, for a total transaction of $161,941.44.
• On Monday, July 1st, Steven Pantelick sold 1,225 shares of PubMatic stock. The shares were sold at an average price of $19.90, for a total transaction of $24,377.50.

PubMatic Price Performance

PubMatic stock opened at $13.63 on Friday. PubMatic, Inc. has a 1-year low of $10.92 and a 1-year high of $25.36. The firm has a market capitalization of $680.55 million, a P/E ratio of 64.91 and a beta of 1.44. The company’s 50-day moving average is $19.90 and its 200 day moving average is $20.76.

PubMatic (NASDAQ:PUBM) last issued its earnings results on Thursday, August 8th. The company reported $0.04 EPS 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 analyst estimates of $70.07 million. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.11) earnings per share. Research analysts anticipate that PubMatic, Inc. will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new position in shares of PubMatic during the first quarter worth approximately $1,412,000. Inspire Investing LLC bought a new position in shares of PubMatic during the first quarter valued at approximately $1,249,000. Panagora Asset Management Inc. boosted its stake in shares of PubMatic by 139.3% during the fourth quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock valued at $2,450,000 after purchasing an additional 87,435 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PubMatic by 1,073.9% during the first 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 in the last quarter. Finally, Sei Investments Co. bought a new position in shares of PubMatic during the first quarter valued at approximately $572,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on PUBM shares. Wolfe Research started coverage on shares of PubMatic in a research report on Tuesday, July 16th. They set an “outperform” rating and a $25.00 target price on the stock. Macquarie decreased 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. Jefferies Financial Group decreased their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada reduced their price objective on shares of PubMatic from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.43.

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.