Rajeev K. Goel Sells 17,793 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 17,793 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $264,048.12. Following the completion of the transaction, the chief executive officer now directly owns 30,896 shares in the company, valued at $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $15.33 on Friday. The stock has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. The stock’s fifty day moving average is $15.69 and its 200 day moving average is $16.60. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of 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 acquiring an additional 519,275 shares during the period. Millennium Management LLC acquired a new position in PubMatic during the second quarter valued at approximately $6,582,000. Victory Capital Management Inc. lifted its stake in PubMatic by 99.2% during the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock worth $1,072,000 after purchasing an additional 35,898 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after purchasing an additional 265,700 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several research analyst reports. Evercore ISI increased 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. Royal Bank of Canada dropped their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday. Scotiabank assumed 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. Finally, Macquarie reiterated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have given 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 an average price target of $20.63.

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.