Steven Pantelick Sells 19,716 Shares of PubMatic (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 19,716 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $17.31, for a total value of $341,283.96. Following the transaction, the chief financial officer directly owned 10,353 shares of the company’s stock, valued at $179,210.43. This represents a 65.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 12th, Steven Pantelick sold 22,203 shares of PubMatic stock. The shares were sold at an average price of $17.25, for a total value of $383,001.75.
• On Monday, July 6th, Steven Pantelick sold 12,548 shares of PubMatic stock. The shares were sold at an average price of $13.42, for a total transaction of $168,394.16.
• On Thursday, July 2nd, Steven Pantelick sold 23,548 shares of PubMatic stock. The shares were sold at an average price of $13.65, for a total transaction of $321,430.20.

PubMatic Trading Up 1.8%

Shares of PUBM stock opened at $17.59 on Friday. The company has a market capitalization of $801.22 million, a P/E ratio of -58.63 and a beta of 1.54. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $18.44. The stock has a 50 day moving average of $13.21 and a two-hundred day moving average of $10.27.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.15. The firm had revenue of $78.59 million for the quarter, compared to the consensus estimate of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. Sell-side analysts predict that PubMatic, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PUBM has been the subject of several analyst reports. Royal Bank Of Canada boosted their price target on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Rosenblatt Securities upped their target price on shares of PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Citizens Jmp raised their price objective on shares of PubMatic from $12.00 to $20.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its position in PubMatic by 320.0% in the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after acquiring an additional 699,549 shares in the last quarter. Simcoe Capital LLC acquired a new position in PubMatic during the fourth quarter valued at approximately $3,625,000. CenterBook Partners LP boosted its holdings in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares during the last quarter. Renaissance Technologies LLC lifted its stake in PubMatic by 26.3% in the first quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the last quarter. Finally, UBS Group AG lifted its stake in PubMatic by 254.7% in the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after purchasing an additional 303,479 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

PubMatic Company Profile

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.

Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.