Steven Pantelick Sells 12,548 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 12,548 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.42, for a total transaction of $168,394.16. Following the completion of the sale, the chief financial officer owned 52,272 shares in the company, valued at approximately $701,490.24. The trade was a 19.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, July 2nd, Steven Pantelick sold 23,548 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total transaction of $321,430.20.

PubMatic Stock Down 0.2%

PubMatic stock traded down $0.03 during trading hours on Monday, hitting $13.52. The stock had a trading volume of 433,149 shares, compared to its average volume of 704,710. The company has a 50-day moving average of $11.04 and a two-hundred day moving average of $9.11. The company has a market cap of $627.91 million, a PE ratio of -35.58 and a beta of 1.51. PubMatic, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $13.99.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million for the quarter, compared to the consensus estimate of $60.42 million. As a group, analysts forecast that PubMatic, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a research report on Tuesday, April 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of PubMatic in a report on Thursday, April 23rd. B. Riley Financial reissued a “buy” rating on shares of PubMatic in a report on Friday, May 8th. Wall Street Zen raised shares of PubMatic from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Royal Bank Of Canada increased their price target on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.88.

Institutional Trading of PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after purchasing an additional 699,549 shares during the period. Simcoe Capital LLC bought a new stake in shares of PubMatic during the fourth quarter worth approximately $3,625,000. CenterBook Partners LP lifted its holdings in PubMatic by 53.3% in the fourth quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares during the period. Renaissance Technologies LLC lifted its holdings in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after buying an additional 321,200 shares during the period. Finally, UBS Group AG grew its stake in shares of PubMatic by 254.7% during the third quarter. UBS Group AG now owns 422,630 shares of the company’s stock worth $3,499,000 after purchasing an additional 303,479 shares during the period. 64.26% of the stock is owned by institutional investors.

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.