PubMatic (NASDAQ:PUBM) CFO Sells $413,748.18 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 22,173 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $18.66, for a total value of $413,748.18. Following the sale, the chief financial officer directly owned 10,353 shares in the company, valued at $193,186.98. This trade represents a 68.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $445,624.27.
• On Thursday, August 13th, Steven Pantelick sold 19,716 shares of PubMatic stock. The shares were sold at an average price of $17.31, for a total value of $341,283.96.
• 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.

PubMatic Trading Up 0.6%

Shares of PubMatic stock opened at $18.68 on Friday. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $19.48. The company has a market cap of $850.87 million, a price-to-earnings ratio of -62.26 and a beta of 1.56. The company’s 50-day moving average price is $16.93 and its 200-day moving average price is $13.01.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.15. The company had revenue of $78.59 million during the quarter, compared to analysts’ expectations of $68.95 million. PubMatic had a negative net margin of 4.66% and a negative return on equity of 5.41%. On average, sell-side analysts predict that PubMatic, Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PUBM shares. Weiss Ratings downgraded PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Evercore restated an “outperform” rating and issued a $21.00 target price on shares of PubMatic in a research note on Monday, August 10th. Scotiabank raised PubMatic from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $8.00 to $21.00 in a report on Friday, August 7th. Craig Hallum assumed coverage on PubMatic in a research report on Thursday, September 24th. They set a “buy” rating and a $24.00 price target for the company. Finally, Citizens Jmp boosted their price objective on PubMatic from $12.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Eleven 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd lifted its stake in PubMatic by 28.0% during the second quarter. WINTON GROUP Ltd now owns 16,900 shares of the company’s stock worth $222,000 after purchasing an additional 3,700 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of PubMatic by 168.8% during the 2nd quarter. Squarepoint Ops LLC now owns 62,137 shares of the company’s stock valued at $815,000 after buying an additional 39,023 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in PubMatic in the 2nd quarter worth approximately $872,000. Pinnacle Holdings LLC bought a new stake in PubMatic in the 2nd quarter worth approximately $2,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in PubMatic in the second quarter worth approximately $1,595,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

About PubMatic

PubMatic, Inc is a cloud infrastructure and digital advertising technology company that operates a sell-side platform (SSP). Its technology helps publishers, mobile application developers and other digital content creators manage and monetize advertising inventory across websites, apps, connected television and other digital channels.

The company’s platform connects digital media sellers with advertisers and agencies through programmatic advertising, enabling the automated buying and selling of ad space.