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 firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $60,560.00. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $340,740.84. The trade was a 15.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

PubMatic Price Performance

NASDAQ PUBM traded up $0.04 during trading hours on Wednesday, reaching $15.58. The company’s stock had a trading volume of 200,159 shares, compared to its average volume of 293,616. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The company’s 50-day moving average is $15.40 and its two-hundred day moving average is $15.72. The firm has a market capitalization of $744.26 million, a price-to-earnings ratio of 50.26 and a beta of 1.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PUBM. Geode Capital Management LLC increased its holdings in shares of PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after buying an additional 7,225 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after purchasing an additional 100,479 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after buying an additional 239,406 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of 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 purchasing an additional 269,217 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PUBM. 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. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Scotiabank began coverage on shares of PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Finally, Macquarie reiterated a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

About PubMatic

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.