Insider Selling: PubMatic (NASDAQ:PUBM) CFO Sells $321,430.20 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 23,548 shares of PubMatic stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $13.65, for a total value of $321,430.20. Following the sale, the chief financial officer directly owned 64,820 shares of the company’s stock, valued at $884,793. This represents a 26.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 value of $168,394.16.

PubMatic Trading Down 1.2%

Shares of NASDAQ PUBM opened at $13.16 on Thursday. PubMatic, Inc. has a 12 month low of $6.15 and a 12 month high of $13.99. The firm has a market capitalization of $611.15 million, a price-to-earnings ratio of -34.63 and a beta of 1.51. The business has a 50-day moving average of $11.26 and a 200-day moving average of $9.20.

PubMatic (NASDAQ:PUBM) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. PubMatic had a negative net margin of 6.21% and a negative return on equity of 6.98%. The firm had revenue of $62.57 million for the quarter, compared to analyst estimates of $60.42 million. On average, analysts predict that PubMatic, Inc. will post -0.26 earnings per share for the current year.

Institutional Trading of PubMatic

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its stake in shares of PubMatic by 320.0% during the fourth quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock valued at $8,144,000 after buying an additional 699,549 shares during the last quarter. Simcoe Capital LLC bought a new stake in shares of PubMatic in the 4th quarter valued at about $3,625,000. CenterBook Partners LP lifted its stake 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 acquiring an additional 398,595 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PubMatic by 26.3% during the 1st 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 period. Finally, UBS Group AG boosted its holdings in PubMatic by 254.7% during the 3rd quarter. UBS Group AG now owns 422,630 shares of the company’s stock valued at $3,499,000 after acquiring an additional 303,479 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PUBM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of PubMatic in a research note on Thursday, April 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of PubMatic in a report on Tuesday, April 21st. Wall Street Zen upgraded PubMatic from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Royal Bank Of Canada upped their target price on PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, B. Riley Financial reiterated a “buy” rating on shares of PubMatic in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.88.

About PubMatic

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.