Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells 4,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $60,560.00. Following the sale, the chief financial officer now owns 22,506 shares in the company, valued at approximately $340,740.84. The trade was a 15.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, January 2nd, Steven Pantelick sold 10,040 shares of PubMatic stock. The stock was 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

Shares of PUBM opened at $15.58 on Thursday. The stock has a market capitalization of $744.26 million, a price-to-earnings ratio of 50.26 and a beta of 1.41. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36. The business’s 50 day simple moving average is $15.40 and its 200-day simple moving average is $15.72.

Analysts Set New Price Targets

PUBM has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Macquarie restated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Royal Bank of Canada cut their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Scotiabank started coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Investors Weigh In On PubMatic

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of PubMatic in the 4th quarter worth about $27,000. New York State Teachers Retirement System purchased a new position in PubMatic in the third quarter worth about $51,000. FMR LLC increased its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the last quarter. International Assets Investment Management LLC raised its position in PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after purchasing an additional 4,855 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of PubMatic in the 3rd quarter valued at approximately $161,000. Hedge funds and other institutional investors 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.