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

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 22,203 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 30,069 shares in the company, valued at approximately $518,690.25. The trade was a 42.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was 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 stock was sold at an average price of $13.65, for a total transaction of $321,430.20.

PubMatic Price Performance

Shares of NASDAQ PUBM traded up $0.31 during mid-day trading on Friday, hitting $17.59. The company had a trading volume of 663,492 shares, compared to its average volume of 691,807. The company has a market capitalization of $816.88 million, a PE ratio of -58.63 and a beta of 1.54. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $18.44. The business’s 50-day simple moving average is $13.09 and its 200 day simple moving average is $10.22.

PubMatic (NASDAQ:PUBM) last released 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. PubMatic had a negative return on equity of 5.41% and a negative net margin of 4.66%.The firm had revenue of $78.59 million during the quarter, compared to analyst estimates of $68.95 million. On average, analysts expect that PubMatic, Inc. will post -0.26 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PUBM. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $8.00 to $21.00 in a research note on Friday, August 7th. Jefferies Financial Group lifted their price target on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research note on Tuesday. Lake Street Capital reiterated a “buy” rating and set a $20.00 price target on shares of PubMatic in a report on Friday, August 7th. B. Riley Financial restated a “buy” rating on shares of PubMatic in a report on Friday, August 7th. Finally, Weiss Ratings lowered shares of PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in PubMatic during the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd increased its stake in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock valued at $39,000 after purchasing an additional 1,915 shares during the last quarter. State of Wyoming purchased a new position in PubMatic in the first quarter valued at approximately $61,000. Tower Research Capital LLC TRC raised its holdings in PubMatic by 264.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock worth $61,000 after purchasing an additional 3,541 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock worth $73,000 after buying an additional 4,856 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

About PubMatic

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.