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 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 transaction of $264,048.12. Following the transaction, the chief executive officer now owns 30,896 shares of the company’s stock, valued at approximately $458,496.64. This represents a 36.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Up 3.4 %

Shares of NASDAQ PUBM opened at $15.33 on Friday. The company has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The firm has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $16.60.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PUBM shares. Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday. Macquarie reiterated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. 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 report on Wednesday, November 13th. Finally, Scotiabank initiated 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.63.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PUBM. Redwood Wealth Management Group LLC acquired a new stake in PubMatic during the second quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in shares of PubMatic during the 2nd quarter worth approximately $38,000. Founders Capital Management increased its stake in shares of PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of PubMatic during the 3rd quarter valued at $51,000. Finally, FMR LLC lifted its position in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the period. 64.26% of the stock is owned by institutional investors.

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.