Steven Pantelick Sells 22,203 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 22,203 shares of PubMatic stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $17.25, for a total transaction of $383,001.75. Following the transaction, the chief financial officer directly owned 30,069 shares in the company, valued at approximately $518,690.25. This represents a 42.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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 Monday, July 6th, Steven Pantelick sold 12,548 shares of PubMatic stock. The shares were sold at an average price of $13.42, for a total transaction of $168,394.16.
• On Thursday, July 2nd, Steven Pantelick sold 23,548 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total transaction of $321,430.20.

PubMatic Price Performance

PUBM stock opened at $17.59 on Friday. The stock has a market capitalization of $801.22 million, a P/E ratio of -58.63 and a beta of 1.54. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $18.44. The business has a 50-day moving average of $13.21 and a 200-day moving average of $10.27.

PubMatic (NASDAQ:PUBM) last announced its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.15. The business had revenue of $78.59 million for the quarter, compared to analyst estimates of $68.95 million. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%. Equities analysts expect that PubMatic, Inc. will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of PubMatic by 320.0% in the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after purchasing an additional 699,549 shares during the period. Simcoe Capital LLC bought a new position in PubMatic in the 4th quarter valued at about $3,625,000. CenterBook Partners LP raised its position in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after buying an additional 321,200 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after acquiring an additional 303,479 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on PUBM shares. Citigroup reiterated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Jefferies Financial Group boosted their target price on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday. Rosenblatt Securities upped their price target on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.