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

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of the firm’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 $60,651.08. Following the transaction, the chairman now directly owns 14,044 shares in the company, valued at approximately $208,412.96. This trade represents a 22.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

PubMatic Stock Performance

PUBM stock opened at $15.33 on Friday. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The firm has a market cap of $732.27 million, a price-to-earnings ratio of 49.45 and a beta of 1.40. The firm has a 50-day simple moving average of $15.69 and a two-hundred day simple moving average of $16.63.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank began coverage on PubMatic in a research report 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 objective on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada dropped their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Evercore ISI boosted their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.63.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in PubMatic by 28.8% in the second 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 last quarter. Geode Capital Management LLC boosted its position 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 in the last quarter. Wellington Management Group LLP grew 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 worth $11,187,000 after buying an additional 519,275 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after buying an additional 100,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the last quarter. Hedge funds and other institutional investors 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.