Mukul Kumar Sells 7,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the completion of the sale, the insider now directly owns 44,888 shares in the company, valued at $741,549.76. This trade represents a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mukul Kumar also recently made the following trade(s):

• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $15.59 on Thursday. The business has a 50 day simple moving average of $15.68 and a two-hundred day simple moving average of $17.11. 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 $744.69 million, a PE ratio of 50.29 and a beta of 1.40.

Hedge Funds Weigh In On PubMatic

Hedge funds have recently bought and sold shares of the business. Founders Capital Management boosted its stake in shares of PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in PubMatic in the 2nd quarter valued at about $29,000. Versor Investments LP grew its stake in PubMatic by 8.2% in the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after acquiring an additional 1,677 shares in the last quarter. Headlands Technologies LLC bought a new position in PubMatic in the 2nd quarter worth about $38,000. Finally, Mesirow Financial Investment Management Inc. increased its position in shares of PubMatic by 25.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock worth $247,000 after acquiring an additional 2,453 shares during the period. Institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

PUBM has been the subject of a number of recent research reports. Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Macquarie reissued a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Finally, Scotiabank began 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $21.13.

About PubMatic

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.