PubMatic (NASDAQ:PUBM) CFO Steven Pantelick Sells 23,491 Shares of Company Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 23,491 shares of the business’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $18.97, for a total value of $445,624.27. Following the sale, the chief financial officer owned 32,526 shares in the company, valued at approximately $617,018.22. This trade represents a 41.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, August 13th, Steven Pantelick sold 19,716 shares of PubMatic stock. The shares were sold at an average price of $17.31, for a total transaction of $341,283.96.
• On Wednesday, August 12th, Steven Pantelick sold 22,203 shares of PubMatic stock. The stock was sold at an average price of $17.25, for a total transaction of $383,001.75.

PubMatic Trading Up 1.0%

PUBM traded up $0.18 during trading on Monday, reaching $18.60. 646,336 shares of the company’s stock were exchanged, compared to its average volume of 693,762. PubMatic, Inc. has a one year low of $6.15 and a one year high of $19.48. The firm has a fifty day moving average price of $16.48 and a two-hundred day moving average price of $12.72. The stock has a market capitalization of $847.23 million, a PE ratio of -62.00 and a beta of 1.56.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.15. The firm had revenue of $78.59 million during the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. Sell-side analysts expect that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Institutional Trading of PubMatic

A number of institutional investors have recently bought and sold shares of PUBM. Caitong International Asset Management Co. Ltd grew its holdings in PubMatic by 75.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after acquiring an additional 1,915 shares during the period. Versant Capital Management Inc lifted its stake in shares of PubMatic by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after purchasing an additional 2,482 shares during the period. Diversified Trust Co lifted its stake in shares of PubMatic by 20.8% in the 1st quarter. Diversified Trust Co now owns 17,564 shares of the company’s stock valued at $144,000 after purchasing an additional 3,022 shares during the period. WINTON GROUP Ltd boosted its position in shares of PubMatic by 28.0% during the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in PubMatic by 12.2% during the fourth quarter. Hsbc Holdings PLC now owns 64,590 shares of the company’s stock worth $573,000 after purchasing an additional 7,034 shares during the period. Institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PUBM shares. Lake Street Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Wall Street Zen raised PubMatic from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. B. Riley Financial lifted their price objective on PubMatic from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 18th. Raymond James Financial upgraded PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Friday, August 7th. Finally, Evercore reissued an “outperform” rating and set a $21.00 target price on shares of PubMatic in a research report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.73.

PubMatic Company Profile

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.