PubMatic (NASDAQ:PUBM) CFO Sells $341,283.96 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 19,716 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $17.31, for a total value of $341,283.96. Following the sale, the chief financial officer directly owned 10,353 shares of the company’s stock, valued at approximately $179,210.43. This represents a 65.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Steven Pantelick sold 22,203 shares of PubMatic stock. The shares were sold at an average price of $17.25, for a total transaction of $383,001.75.
• On Monday, July 6th, Steven Pantelick sold 12,548 shares of PubMatic stock. The stock was sold at an average price of $13.42, for a total transaction of $168,394.16.
• On Thursday, July 2nd, Steven Pantelick sold 23,548 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total transaction of $321,430.20.

PubMatic Stock Up 1.8%

NASDAQ PUBM traded up $0.31 during trading hours on Friday, hitting $17.59. 663,492 shares of the stock were exchanged, compared to its average volume of 691,807. The company has a market cap of $816.88 million, a price-to-earnings ratio of -58.63 and a beta of 1.54. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44. The stock has a 50-day moving average of $13.09 and a 200 day moving average of $10.22.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The company had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. On average, equities research analysts expect that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PUBM shares. Evercore reaffirmed an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a report on Monday. Royal Bank Of Canada lifted their price objective on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, August 7th. Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Raymond James Financial raised shares of PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PUBM. Millennium Management LLC lifted its holdings in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares in the last quarter. Simcoe Capital LLC acquired a new position in shares of PubMatic in the fourth quarter valued at approximately $3,625,000. CenterBook Partners LP lifted its stake in shares of PubMatic by 53.3% during the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares during the period. Renaissance Technologies LLC lifted its stake in shares of PubMatic by 26.3% during the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after buying an additional 321,200 shares during the period. Finally, UBS Group AG boosted its position in PubMatic by 254.7% during the third quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after acquiring an additional 303,479 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.