PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $115,640.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $16.52, for a total transaction of $115,640.00. Following the completion of the sale, the insider now owns 44,888 shares of the company’s stock, valued at approximately $741,549.76. The trade was a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 transaction of $115,780.00.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded down $0.24 during midday trading on Tuesday, reaching $16.27. The stock had a trading volume of 267,968 shares, compared to its average volume of 457,356. The company has a market capitalization of $777.22 million, a price-to-earnings ratio of 52.61 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The stock has a 50-day moving average of $15.63 and a 200-day moving average of $17.16.

Institutional Trading of PubMatic

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PUBM. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price on the stock. Evercore ISI lifted their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reduced their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.13.

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.