Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells $148,993.60 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 10,040 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $148,993.60. Following the sale, the chief financial officer now owns 38,285 shares of the company’s stock, valued at $568,149.40. This trade represents a 20.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were 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 stock was sold at an average price of $14.45, for a total transaction of $57,800.00.

PubMatic Stock Performance

Shares of PUBM stock opened at $15.33 on Monday. The stock has a fifty day moving average price of $15.69 and a 200 day moving average price of $16.57. The stock has a market cap of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic in the 2nd quarter worth about $29,000. Founders Capital Management lifted its holdings in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of PubMatic in the second quarter valued at about $38,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic in the third quarter valued at approximately $51,000. Finally, FMR LLC increased its stake in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PUBM shares. Royal Bank of Canada cut their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company. Evercore ISI lifted their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and a consensus target price of $20.63.

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.