PubMatic (NASDAQ:PUBM) CFO Steven Pantelick Sells 50,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 50,000 shares of the stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $18.71, for a total value of $935,500.00. Following the completion of the transaction, the chief financial officer owned 10,353 shares of the company’s stock, valued at $193,704.63. This represents a 82.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, October 5th, Steven Pantelick sold 22,173 shares of PubMatic stock. The stock was sold at an average price of $18.66, for a total value of $413,748.18.
• On Friday, October 2nd, Steven Pantelick sold 23,491 shares of PubMatic stock. The stock was sold at an average price of $18.97, for a total value of $445,624.27.

PubMatic Price Performance

Shares of PubMatic stock traded up $1.59 during midday trading on Friday, reaching $20.61. The company had a trading volume of 1,953,587 shares, compared to its average volume of 586,811. The stock has a fifty day moving average price of $17.59 and a 200 day moving average price of $12.58. The firm has a market cap of $938.79 million, a PE ratio of -412.12 and a beta of 1.59. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $20.81.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PubMatic in a research note on Wednesday, November 4th. Lake Street Capital reiterated a “buy” rating and set a $20.00 price objective on shares of PubMatic in a research report on Friday, August 7th. Craig Hallum started coverage on shares of PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 target price for the company. Jefferies Financial Group boosted their target price on shares of PubMatic from $10.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. Finally, Citizens Jmp upped their price target on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Institutional Investors Weigh In On PubMatic

Large investors have recently added to or reduced their stakes in the business. Avestar Capital LLC grew its position in shares of PubMatic by 250.3% during the 3rd quarter. Avestar Capital LLC now owns 192,688 shares of the company’s stock worth $3,609,000 after buying an additional 137,688 shares during the period. Quantinno Capital Management LP lifted its position in shares of PubMatic by 248.0% during the 1st quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock valued at $1,692,000 after acquiring an additional 147,386 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of PubMatic during the 2nd quarter valued at $872,000. Renaissance Technologies LLC lifted its position in shares of PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of PubMatic during the 2nd quarter valued at $1,595,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company’s services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.