PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods Sells 3,529 Shares

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,529 shares of PubMatic stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the transaction, the general counsel now owns 34,702 shares in the company, valued at $514,977.68. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Performance

PubMatic stock opened at $15.33 on Friday. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The company has a market cap of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. The business’s 50-day simple moving average is $15.69 and its two-hundred day simple moving average is $16.63.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On PubMatic

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake 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 acquiring an additional 519,275 shares during the period. Millennium Management LLC purchased a new position in shares of PubMatic during the second quarter worth $6,582,000. Victory Capital Management Inc. lifted its position in PubMatic by 99.2% during the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after purchasing an additional 35,898 shares during the period. Charles Schwab Investment Management Inc. grew its position in PubMatic by 122.5% during the 3rd 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 during the period. Finally, Renaissance Technologies LLC grew its position in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Hedge funds and other 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.