PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $66,483.20 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $66,483.20. Following the transaction, the insider now owns 52,005 shares in the company, valued at $771,754.20. The trade was a 7.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.52, for a total transaction of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00.

PubMatic Trading Up 3.4 %

NASDAQ PUBM opened at $15.33 on Friday. The business has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $16.60. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PUBM. Macquarie reissued a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Evercore ISI raised their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank assumed coverage on 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, Royal Bank of Canada cut their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average target price of $20.63.

Institutional Trading of PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in PubMatic during the second quarter worth about $29,000. Founders Capital Management lifted 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 buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of PubMatic in the 2nd quarter worth approximately $38,000. New York State Teachers Retirement System bought a new position in shares of PubMatic in the third quarter valued at approximately $51,000. Finally, FMR LLC increased its position in shares of PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the last quarter. Hedge funds and other institutional investors 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.