PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total value of $115,570.00. Following the completion of the transaction, the insider now directly owns 52,005 shares in the company, valued at approximately $858,602.55. The trade was a 11.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mukul Kumar also recently made the following trade(s):

• On Thursday, January 2nd, Mukul Kumar sold 4,480 shares of PubMatic stock. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20.
• 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 transaction of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.54, for a total transaction of $115,780.00.

PubMatic Price Performance

Shares of PUBM opened at $16.66 on Wednesday. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The stock has a fifty day moving average price of $15.40 and a 200 day moving average price of $15.51. The company has a market cap of $795.85 million, a P/E ratio of 53.74 and a beta of 1.41.

Hedge Funds Weigh In On PubMatic

Several institutional investors have recently modified their holdings of PUBM. Truist Financial Corp acquired a new position in shares of PubMatic during the second quarter worth approximately $380,000. SG Americas Securities LLC raised its stake in PubMatic by 170.6% during the 3rd quarter. SG Americas Securities LLC now owns 24,223 shares of the company’s stock valued at $360,000 after acquiring an additional 15,273 shares in the last quarter. Inspire Investing LLC boosted its position in PubMatic by 57.6% during the 3rd quarter. Inspire Investing LLC now owns 27,659 shares of the company’s stock worth $411,000 after acquiring an additional 10,109 shares during the period. International Assets Investment Management LLC grew its stake in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after purchasing an additional 4,855 shares in the last quarter. Finally, BayBridge Capital Group LLC acquired a new position in shares of PubMatic during the third quarter valued at $387,000. Institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PUBM. Scotiabank assumed coverage on shares of PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. Evercore ISI lifted their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lowered 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. Macquarie restated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Finally, JMP Securities reiterated a “market outperform” rating and set a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.