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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction 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 value of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Stock Up 3.4 %

Shares of NASDAQ PUBM opened at $15.33 on Monday. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The stock has a market cap of $732.27 million, a price-to-earnings ratio of 49.45 and a beta of 1.40. The company’s fifty day moving average is $15.69 and its 200-day moving average is $16.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic during the second quarter worth about $29,000. Founders Capital Management increased its stake in PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC acquired a new stake in PubMatic during the 2nd quarter worth approximately $38,000. New York State Teachers Retirement System bought a new position in PubMatic in the third quarter valued at approximately $51,000. Finally, FMR LLC boosted its holdings in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PUBM has been the subject of several recent research reports. Scotiabank started coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. 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 report on Friday. Evercore ISI lifted 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, Macquarie reiterated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.