Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $183,611.61 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 12,831 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $183,611.61. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $17,055.89.
• On Tuesday, September 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was 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 Up 2.9 %

PubMatic stock opened at $14.77 on Friday. PubMatic, Inc. has a 52-week low of $10.92 and a 52-week high of $25.36. The firm’s fifty day moving average is $15.71 and its 200 day moving average is $19.89. The company has a market cap of $737.48 million, a price-to-earnings ratio of 70.33 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The firm had revenue of $67.27 million for the quarter, compared to analysts’ expectations of $70.07 million. During the same period in the prior year, the company earned ($0.11) EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of PubMatic by 170.6% during the 3rd quarter. SG Americas Securities LLC now owns 24,223 shares of the company’s stock valued at $360,000 after purchasing an additional 15,273 shares during the last quarter. Dana Investment Advisors Inc. purchased a new position in PubMatic during the second quarter worth $839,000. Truist Financial Corp purchased a new position in PubMatic during the second quarter worth $380,000. Algert Global LLC increased its position in PubMatic by 19.0% during the second quarter. Algert Global LLC now owns 171,125 shares of the company’s stock valued at $3,476,000 after acquiring an additional 27,272 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of PubMatic in the 2nd quarter worth about $6,582,000. 64.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on PUBM shares. Macquarie lowered their price target on PubMatic from $24.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Wolfe Research initiated coverage on shares of PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Jefferies Financial Group cut their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, B. Riley dropped their price objective on shares of PubMatic from $31.00 to $22.00 and set a “buy” 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.