PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick Sells 4,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of PubMatic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $60,560.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $340,740.84. This represents a 15.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, January 2nd, Steven Pantelick sold 10,040 shares of PubMatic stock. The shares were sold at an average price of $14.84, for a total transaction of $148,993.60.
• On Tuesday, December 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were sold at an average price of $16.56, for a total value of $66,240.00.

PubMatic Stock Up 0.3 %

NASDAQ PUBM traded up $0.04 during trading hours on Wednesday, hitting $15.58. The company had a trading volume of 200,159 shares, compared to its average volume of 293,616. The firm has a market cap of $744.26 million, a P/E ratio of 50.26 and a beta of 1.41. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The business has a fifty day simple moving average of $15.40 and a 200-day simple moving average of $15.72.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in shares of PubMatic during the 2nd quarter worth about $6,582,000. Truist Financial Corp bought a new stake in PubMatic during the second quarter worth approximately $380,000. SG Americas Securities LLC raised its holdings in PubMatic by 170.6% during the third quarter. SG Americas Securities LLC now owns 24,223 shares of the company’s stock worth $360,000 after purchasing an additional 15,273 shares in the last quarter. Leibman Financial Services Inc. lifted its position in PubMatic by 19.4% in the third quarter. Leibman Financial Services Inc. now owns 48,459 shares of the company’s stock worth $721,000 after purchasing an additional 7,880 shares during the period. Finally, Inspire Investing LLC boosted its stake in PubMatic by 57.6% during the 3rd quarter. Inspire Investing LLC now owns 27,659 shares of the company’s stock valued at $411,000 after purchasing an additional 10,109 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research report on Monday, January 27th. Macquarie reiterated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada lowered their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI lifted their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Scotiabank initiated coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.