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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 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 value of $66,483.20. Following the completion of the sale, the insider now directly owns 52,005 shares of the company’s stock, valued at approximately $771,754.20. This represents a 7.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Stock Up 3.4 %

Shares of PubMatic stock opened at $15.33 on Friday. The company has a market cap of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. The business has a 50 day moving average of $15.69 and a 200 day moving average of $16.63. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36.

Institutional Investors Weigh In On PubMatic

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares in the last quarter. Millennium Management LLC purchased a new position in shares of PubMatic during the 2nd quarter worth approximately $6,582,000. Victory Capital Management Inc. raised its position in shares of PubMatic by 99.2% in the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after acquiring an additional 35,898 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 239,406 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after buying an additional 265,700 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PUBM shares. Scotiabank initiated coverage on PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective on the stock. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Evercore ISI increased 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. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.63.

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.