Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $115,570.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $16.51, for a total transaction of $115,570.00. Following the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $858,602.55. The trade was a 11.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, January 2nd, Mukul Kumar sold 4,480 shares of PubMatic stock. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20.
• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was 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 Stock Performance

Shares of NASDAQ:PUBM opened at $15.80 on Friday. The company has a 50-day simple moving average of $15.40 and a 200-day simple moving average of $15.52. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The stock has a market capitalization of $754.77 million, a price-to-earnings ratio of 50.97 and a beta of 1.41.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of PubMatic in the fourth quarter valued at about $27,000. New York State Teachers Retirement System purchased a new stake in shares of PubMatic in the third quarter valued at about $51,000. FMR LLC raised its holdings in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after buying an additional 4,855 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of PubMatic in the fourth quarter valued at about $106,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PUBM has been the subject of a number of analyst reports. Evercore ISI boosted their target price 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 reissued a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Scotiabank began coverage on shares of PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target for the company. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.