PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $283,957.04 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 18,391 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the sale, the chief executive officer now owns 12,505 shares of the company’s stock, valued at $193,077.20. The trade was a 59.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

PubMatic Trading Down 0.7 %

PUBM stock traded down $0.10 during trading on Wednesday, reaching $14.74. 233,812 shares of the stock were exchanged, compared to its average volume of 270,602. The firm has a market capitalization of $704.09 million, a price-to-earnings ratio of 47.55 and a beta of 1.41. The business has a 50 day moving average price of $15.68 and a 200-day moving average price of $16.50. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Royal Bank of Canada lowered their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI increased their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Macquarie reissued a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.63.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PUBM. Redwood Wealth Management Group LLC purchased a new stake in PubMatic during the second quarter worth about $29,000. Headlands Technologies LLC purchased a new stake in PubMatic during the 2nd quarter worth approximately $38,000. 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 buying an additional 1,000 shares during the period. New York State Teachers Retirement System acquired a new stake in PubMatic during the 3rd quarter worth approximately $51,000. Finally, FMR LLC boosted its position in PubMatic by 201.6% in the 3rd 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. Institutional investors and hedge funds 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.