PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $66,240.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares in the company, valued at approximately $372,699.36. The trade was a 15.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, November 4th, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00.
• 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 value of $183,611.61.
• 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 value of $17,055.89.

PubMatic Price Performance

PUBM stock traded up $0.26 during trading on Wednesday, reaching $16.94. 313,321 shares of the stock traded hands, compared to its average volume of 463,985. The firm has a market capitalization of $809.22 million, a PE ratio of 54.65 and a beta of 1.40. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36. The business’s 50 day moving average price is $15.27 and its 200-day moving average price is $17.59.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Raymond James lowered shares of PubMatic from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Finally, B. Riley decreased their price target on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and an average price target of $21.71.

Hedge Funds Weigh In On PubMatic

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after buying an additional 519,275 shares during the period. Millennium Management LLC bought a new stake in PubMatic in the second quarter valued at about $6,582,000. Acadian Asset Management LLC grew its stake in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after buying an additional 290,465 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after purchasing an additional 265,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after acquiring an additional 239,406 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.