PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick Sells 10,040 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $148,993.60. Following the completion of the transaction, the chief financial officer now directly owns 38,285 shares in the company, valued at $568,149.40. This trade represents a 20.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, December 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00.
• On Monday, November 4th, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00.

PubMatic Stock Performance

Shares of PubMatic stock opened at $15.33 on Friday. The company has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. The company has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $16.63. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36.

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently made changes to their positions in PUBM. Renaissance Technologies LLC boosted its holdings in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after buying an additional 265,700 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after acquiring an additional 7,225 shares during the period. Wellington Management Group LLP boosted its stake in shares of PubMatic by 222.8% during the 3rd 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. grew its position in shares of PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after acquiring an additional 100,479 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PUBM. Scotiabank began coverage on PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target for the company. Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Macquarie reiterated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

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.