Steven Pantelick Sells 10,040 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 10,040 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $148,993.60. Following the transaction, the chief financial officer now owns 38,285 shares of the company’s stock, valued at $568,149.40. This trade represents a 20.78 % decrease in their position. 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 Tuesday, December 3rd, Steven Pantelick sold 4,000 shares of PubMatic stock. The stock was sold at an average price of $16.56, for a total value of $66,240.00.
• On Monday, November 4th, Steven Pantelick sold 4,000 shares of PubMatic stock. The shares were sold at an average price of $14.45, for a total transaction of $57,800.00.

PubMatic Trading Up 3.4 %

NASDAQ PUBM opened at $15.33 on Friday. The firm’s fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $16.60. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

Analysts Set New Price Targets

PUBM has been the topic of several research reports. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Macquarie restated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank initiated coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Finally, Evercore ISI upped their price target on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in shares of PubMatic by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock worth $3,171,000 after acquiring an additional 11,712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the last quarter. Principal Financial Group Inc. increased its stake in PubMatic by 14.8% during the 2nd quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock valued at $614,000 after purchasing an additional 3,894 shares in the last quarter. Versor Investments LP raised its holdings in shares of PubMatic by 8.2% in the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after buying an additional 1,677 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after buying an additional 290,465 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.