PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel Sells 4,087 Shares

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the transaction, the chairman now owns 14,044 shares in the company, valued at $208,412.96. This represents a 22.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PubMatic Price Performance

PubMatic stock opened at $15.33 on Monday. The company has a market cap of $732.27 million, a PE 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. The company has a fifty day moving average price of $15.69 and a two-hundred day moving average price of $16.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PUBM shares. Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Scotiabank initiated coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company. Macquarie restated a “neutral” rating and issued a $19.00 price target 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 $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.63.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently modified their holdings of PUBM. Renaissance Technologies LLC boosted its stake in PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after purchasing an additional 7,225 shares during the last quarter. Wellington Management Group LLP boosted its position in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after buying an additional 100,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after buying an additional 239,406 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.