Steven Pantelick Sells 4,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $15.14, for a total transaction of $60,560.00. Following the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $340,740.84. This trade represents a 15.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 2nd, Steven Pantelick sold 10,040 shares of PubMatic stock. The stock was sold at an average price of $14.84, for a total value of $148,993.60.
• 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 value of $66,240.00.

PubMatic Trading Up 1.7 %

Shares of NASDAQ:PUBM opened at $15.84 on Friday. The company has a market capitalization of $756.68 million, a price-to-earnings ratio of 51.10 and a beta of 1.41. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The firm’s 50-day moving average is $15.40 and its 200 day moving average is $15.72.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Macquarie reissued a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Scotiabank initiated coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target for the company. Finally, Evercore ISI boosted their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Four investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in PubMatic by 222.8% in the third 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 period. Millennium Management LLC purchased a new position in PubMatic in the 2nd quarter worth about $6,582,000. Avestar Capital LLC bought a new stake in PubMatic during the 4th quarter valued at about $4,701,000. Nordea Investment Management AB boosted its position in PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock valued at $5,101,000 after buying an additional 269,217 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.