PubMatic (NASDAQ:PUBM) Stock: Insider Steven Pantelick Sells 50,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 50,000 shares of PubMatic stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $18.71, for a total value of $935,500.00. Following the completion of the transaction, the chief financial officer directly owned 10,353 shares in the company, valued at approximately $193,704.63. This represents a 82.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Performance

Shares of PUBM traded up $1.59 during trading hours on Friday, reaching $20.61. 1,953,587 shares of the company traded hands, compared to its average volume of 586,811. The stock’s fifty day moving average is $17.59 and its 200 day moving average is $12.58. PubMatic, Inc. has a 1-year low of $6.15 and a 1-year high of $20.81. The stock has a market cap of $938.79 million, a P/E ratio of -412.12 and a beta of 1.59.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners acquired a new stake in PubMatic during the third quarter valued at approximately $20,230,000. Renaissance Technologies LLC grew its stake in shares of PubMatic by 26.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after purchasing an additional 321,200 shares during the period. Avestar Capital LLC raised its holdings in shares of PubMatic by 250.3% in the 3rd quarter. Avestar Capital LLC now owns 192,688 shares of the company’s stock worth $3,609,000 after buying an additional 137,688 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of PubMatic by 86.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 155,596 shares of the company’s stock worth $2,915,000 after buying an additional 71,968 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in shares of PubMatic in the 3rd quarter worth approximately $2,365,000. Institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. B. Riley Financial boosted their price target on PubMatic from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 10th. Evercore reiterated an “outperform” rating and issued a $21.00 price objective on shares of PubMatic in a research report on Monday, August 10th. Jefferies Financial Group lifted their price objective on PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, August 11th. Citizens Jmp boosted their price objective on PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research report on Friday, August 7th. Finally, Rosenblatt Securities boosted their price objective on PubMatic from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, November 10th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

About PubMatic

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.