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

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 10,353 shares of the company’s stock, valued at $193,704.63. This trade represents a 82.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Stock Performance

Shares of NASDAQ:PUBM traded up $1.59 during midday trading on Friday, reaching $20.61. 1,953,587 shares of the company’s stock traded hands, compared to its average volume of 687,289. PubMatic, Inc. has a 1 year low of $6.15 and a 1 year high of $20.81. The company has a market cap of $938.79 million, a P/E ratio of -412.12 and a beta of 1.59. The company has a fifty day simple moving average of $17.51 and a two-hundred day simple moving average of $12.52.

Institutional Trading of PubMatic

Institutional investors have recently made changes to their positions in the company. Caxton Associates LLP raised its stake in PubMatic by 223.5% in the 3rd quarter. Caxton Associates LLP now owns 35,218 shares of the company’s stock valued at $660,000 after purchasing an additional 24,330 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in PubMatic in the 3rd quarter valued at $682,000. First Trust Advisors LP acquired a new stake in PubMatic during the 3rd quarter worth $439,000. Boston Partners acquired a new stake in PubMatic during the 3rd quarter worth $20,230,000. Finally, Diversified Trust Co boosted its stake in PubMatic by 64.2% during the 3rd quarter. Diversified Trust Co now owns 28,841 shares of the company’s stock worth $540,000 after purchasing an additional 11,277 shares during the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on PUBM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of PubMatic in a report on Wednesday, November 4th. Royal Bank Of Canada increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday. Wall Street Zen lowered shares of PubMatic from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Rosenblatt Securities lifted their target price on shares of PubMatic from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Scotiabank raised shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Twelve research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

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.