PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $264,048.12 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $264,048.12. Following the sale, the chief executive officer now directly owns 30,896 shares in the company, valued at approximately $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $15.33 on Monday. The stock’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $16.57. The firm has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36.

Analyst Ratings Changes

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

Institutional Trading of PubMatic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic in the 2nd quarter valued at $29,000. Founders Capital Management boosted its stake in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of PubMatic during the second quarter worth about $38,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic during the third quarter worth about $51,000. Finally, FMR LLC lifted its holdings in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during 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.