PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $376,849.74 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the transaction, the chief executive officer now owns 5,896 shares of the company’s stock, valued at $89,265.44. This trade represents a 80.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PubMatic Trading Up 3.7 %

Shares of PubMatic stock opened at $16.43 on Friday. The company has a fifty day moving average price of $15.41 and a 200 day moving average price of $15.68. 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 $784.86 million, a price-to-earnings ratio of 53.00 and a beta of 1.41.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PUBM. Macquarie reiterated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada cut their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank began coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Trading of PubMatic

A number of institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its position in PubMatic by 64.9% during the 4th quarter. AlphaQuest LLC now owns 66,863 shares of the company’s stock worth $982,000 after purchasing an additional 26,324 shares during the period. SBI Securities Co. Ltd. purchased a new stake in PubMatic during the 4th quarter worth $27,000. Principal Financial Group Inc. boosted its position in PubMatic by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock worth $370,000 after purchasing an additional 2,234 shares during the period. Avestar Capital LLC purchased a new stake in PubMatic during the 4th quarter worth $4,701,000. Finally, Leibman Financial Services Inc. boosted its position in PubMatic by 17.0% during the 4th quarter. Leibman Financial Services Inc. now owns 56,690 shares of the company’s stock worth $833,000 after purchasing an additional 8,231 shares during the period. 64.26% of the stock is owned by hedge funds and other 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.