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

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 10,040 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 38,285 shares of the company’s stock, valued at approximately $568,149.40. This trade represents a 20.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, December 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were 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 %

NASDAQ PUBM traded up $0.50 on Friday, hitting $15.33. 271,500 shares of the company were exchanged, compared to its average volume of 268,150. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The firm has a 50 day moving average of $15.68 and a two-hundred day moving average of $16.67. The company has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PUBM. Scotiabank assumed coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Royal Bank of Canada lowered their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Evercore ISI lifted their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.63.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 265,700 shares in the last quarter. Geode Capital Management LLC increased 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 buying an additional 7,225 shares during the period. Wellington Management Group LLP raised its position in shares of PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted 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 valued at $10,059,000 after acquiring an additional 100,479 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 239,406 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

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.