PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $148,993.60 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $148,993.60. Following the completion of the sale, the chief financial officer now owns 38,285 shares in the company, valued at approximately $568,149.40. This represents a 20.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $66,240.00.
• On Monday, November 4th, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $14.45, for a total transaction of $57,800.00.

PubMatic Trading Up 3.4 %

Shares of PUBM opened at $15.33 on Friday. The firm has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The stock’s 50 day moving average is $15.69 and its two-hundred day moving average is $16.60.

Analysts Set New Price Targets

Several equities research analysts have commented on PUBM shares. 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 on the stock. Royal Bank of Canada decreased their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday. Evercore ISI lifted their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Macquarie reissued a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.63.

Institutional Investors Weigh In On PubMatic

Institutional investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new position in PubMatic during the second quarter valued at $29,000. Founders Capital Management lifted its stake in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC acquired a new stake in PubMatic in the 2nd quarter worth about $38,000. New York State Teachers Retirement System purchased a new stake in PubMatic during the 3rd quarter worth approximately $51,000. Finally, FMR LLC raised its holdings in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.