PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $161,941.44 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 7,846 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $20.64, for a total transaction of $161,941.44. Following the completion of the sale, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at $464,523.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, July 1st, Steven Pantelick sold 1,225 shares of PubMatic stock. The shares were sold at an average price of $19.90, for a total transaction of $24,377.50.
• On Monday, April 8th, Steven Pantelick sold 8,876 shares of PubMatic stock. The stock was sold at an average price of $23.71, for a total value of $210,449.96.

PubMatic Stock Performance

NASDAQ:PUBM traded up $0.23 during midday trading on Wednesday, reaching $20.67. 222,368 shares of the stock traded hands, compared to its average volume of 464,326. The stock has a market capitalization of $1.03 billion, a PE ratio of 98.43 and a beta of 1.44. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36. The business has a 50-day moving average of $22.03 and a two-hundred day moving average of $19.89.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $66.70 million for the quarter, compared to the consensus estimate of $62.19 million. PubMatic had a return on equity of 4.21% and a net margin of 4.42%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.09) earnings per share. Research analysts anticipate that PubMatic, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PUBM shares. B. Riley initiated coverage on PubMatic in a research report on Friday, April 19th. They set a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada upped their target price on PubMatic from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in shares of PubMatic during the third quarter worth about $3,701,000. Los Angeles Capital Management LLC acquired a new stake in PubMatic in the 1st quarter worth approximately $1,412,000. Panagora Asset Management Inc. grew its position in PubMatic by 139.3% during the 4th quarter. Panagora Asset Management Inc. now owns 150,219 shares of the company’s stock worth $2,450,000 after purchasing an additional 87,435 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in PubMatic by 8.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 436,130 shares of the company’s stock valued at $7,113,000 after purchasing an additional 35,286 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in PubMatic during the 4th quarter valued at approximately $469,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.