Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CFO Sells 4,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the sale, the chief financial officer now owns 22,506 shares of the company’s stock, valued at approximately $372,699.36. This represents a 15.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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.
• On Thursday, October 3rd, Steven Pantelick sold 12,831 shares of PubMatic stock. The shares were sold at an average price of $14.31, for a total transaction of $183,611.61.
• On Tuesday, October 1st, Steven Pantelick sold 1,147 shares of PubMatic stock. The shares were sold at an average price of $14.87, for a total transaction of $17,055.89.

PubMatic Trading Up 1.6 %

Shares of PUBM stock opened at $16.94 on Thursday. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36. The firm has a market capitalization of $809.22 million, a P/E ratio of 54.65 and a beta of 1.40. The firm’s fifty day simple moving average is $15.27 and its 200 day simple moving average is $17.59.

Analyst Upgrades and Downgrades

PUBM has been the subject of a number of analyst reports. Raymond James cut shares of PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Jefferies Financial Group reduced their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Macquarie restated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reduced their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently made changes to their positions in PUBM. Redwood Wealth Management Group LLC acquired a new position in shares of PubMatic in the 2nd quarter valued at $29,000. Founders Capital Management increased its position in shares of PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of PubMatic during the 2nd quarter worth about $38,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic during the 3rd quarter worth about $51,000. Finally, FMR LLC increased its position in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.