PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick Sells 10,040 Shares

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CFO Steven Pantelick sold 10,040 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $148,993.60. Following the transaction, the chief financial officer now owns 38,285 shares of the company's stock, valued at $568,149.40. This represents a 20.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, December 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00.
• 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.

PubMatic Trading Up 3.4 %

Shares of PUBM traded up $0.50 during trading hours on Friday, hitting $15.33. 271,500 shares of the stock traded hands, compared to its average volume of 268,150. The business has a fifty day moving average of $15.69 and a 200-day moving average of $16.63. The firm has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently modified their holdings of PUBM. Renaissance Technologies LLC boosted its stake in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company's stock valued at $24,142,000 after acquiring an additional 265,700 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company's stock valued at $14,295,000 after purchasing an additional 7,225 shares during the period. Wellington Management Group LLP boosted its position in shares of PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company's stock worth $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company's stock worth $10,059,000 after purchasing an additional 100,479 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock valued at $6,466,000 after purchasing an additional 239,406 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research note on Friday. Scotiabank started coverage on PubMatic in a research report on Thursday, December 5th. They issued a "sector perform" rating and a $17.00 price objective for the company. Macquarie reissued a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Finally, Evercore ISI lifted their price target on PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and a consensus price target of $20.63.

PubMatic Company Profile

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.