PubMatic, Inc. (NASDAQ:PUBM) General Counsel Sells $52,370.36 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $52,370.36. Following the transaction, the general counsel now owns 34,702 shares of the company’s stock, valued at $514,977.68. This represents a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PubMatic Stock Up 3.4 %

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

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. Renaissance Technologies LLC increased its position in shares of PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after acquiring an additional 265,700 shares during the period. Geode Capital Management LLC raised its position in PubMatic by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of PubMatic by 17.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after buying an additional 100,479 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the period. Institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

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