PubMatic (NASDAQ:PUBM) CFO Sells $383,001.75 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 22,203 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $17.25, for a total transaction of $383,001.75. Following the completion of the sale, the chief financial officer directly owned 30,069 shares of the company’s stock, valued at $518,690.25. The trade was a 42.48% decrease in their ownership of the stock. 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 Thursday, August 13th, Steven Pantelick sold 19,716 shares of PubMatic stock. The stock was sold at an average price of $17.31, for a total transaction of $341,283.96.
• On Monday, July 6th, Steven Pantelick sold 12,548 shares of PubMatic stock. The stock was sold at an average price of $13.42, for a total value of $168,394.16.
• On Thursday, July 2nd, Steven Pantelick sold 23,548 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total value of $321,430.20.

PubMatic Price Performance

PUBM stock opened at $17.59 on Monday. The firm has a market cap of $801.22 million, a PE ratio of -58.63 and a beta of 1.54. The business has a 50 day moving average of $13.21 and a 200-day moving average of $10.29. PubMatic, Inc. has a 12-month low of $6.15 and a 12-month high of $18.44.

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

Wall Street Analyst Weigh In

PUBM has been the topic of a number of recent analyst reports. Citigroup reiterated an “outperform” rating on shares of PubMatic in a research note on Friday, August 7th. Scotiabank upgraded shares of PubMatic from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $8.00 to $21.00 in a report on Friday, August 7th. Rosenblatt Securities lifted their price objective on shares of PubMatic from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group lifted their price objective on shares of PubMatic from $10.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada boosted their target price on shares of PubMatic from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PubMatic presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Holdings LLC bought a new stake in PubMatic during the 2nd quarter valued at $2,076,000. Bank of New York Mellon Corp bought a new position in shares of PubMatic in the second quarter worth $1,595,000. Versant Capital Management Inc boosted its holdings in shares of PubMatic by 30.4% in the second quarter. Versant Capital Management Inc now owns 10,657 shares of the company’s stock worth $140,000 after acquiring an additional 2,482 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of PubMatic by 248.0% in the first quarter. Quantinno Capital Management LP now owns 206,815 shares of the company’s stock worth $1,692,000 after acquiring an additional 147,386 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 321,200 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

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.