Insider Selling: PubMatic (NASDAQ:PUBM) CFO Sells 50,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $18.71, for a total transaction of $935,500.00. Following the transaction, the chief financial officer directly owned 10,353 shares of the company’s stock, valued at $193,704.63. This represents a 82.85% decrease in their ownership of the stock. 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, October 5th, Steven Pantelick sold 22,173 shares of PubMatic stock. The shares were sold at an average price of $18.66, for a total transaction of $413,748.18.
• On Friday, October 2nd, Steven Pantelick sold 23,491 shares of PubMatic stock. The shares were sold at an average price of $18.97, for a total transaction of $445,624.27.

PubMatic Stock Up 8.4%

Shares of NASDAQ:PUBM traded up $1.59 during midday trading on Friday, reaching $20.61. The company’s stock had a trading volume of 1,953,587 shares, compared to its average volume of 687,289. The firm has a market capitalization of $938.79 million, a PE ratio of -412.12 and a beta of 1.59. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $20.81. The stock has a fifty day moving average of $17.51 and a 200 day moving average of $12.52.

Hedge Funds Weigh In On PubMatic

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PubMatic during the 3rd quarter worth about $39,000. State of Wyoming acquired a new stake in shares of PubMatic during the 1st quarter valued at about $61,000. Versant Capital Management Inc grew its position in shares of PubMatic by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock valued at $140,000 after acquiring an additional 2,482 shares during the period. Sei Investments Co. purchased a new position in shares of PubMatic in the 1st quarter valued at about $129,000. Finally, WINTON GROUP Ltd increased its stake in shares of PubMatic by 28.0% in the 2nd quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock valued at $222,000 after purchasing an additional 3,700 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PUBM. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PubMatic in a research report on Wednesday, November 4th. Craig Hallum assumed coverage on PubMatic in a research note on Thursday, September 24th. They set a “buy” rating and a $24.00 price objective for the company. Raymond James Financial raised PubMatic from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Friday, August 7th. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of PubMatic in a report on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PubMatic has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

PubMatic Company Profile

PubMatic is a digital advertising technology company that operates a sell-side platform for publishers and app developers. Its cloud-based platform helps clients manage and monetize advertising inventory by connecting it with demand from advertisers and media buyers through programmatic advertising. The company’s services support advertising across web, mobile app, video and connected TV environments. Its tools include real-time bidding, inventory management, audience and data solutions, and analytics designed to help publishers optimize advertising revenue and give buyers access to digital audiences.