Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 18,391 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 18,391 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 12,505 shares in the company, valued at $193,077.20. This represents a 59.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $14.74 on Friday. The stock’s 50 day moving average price is $15.68 and its 200 day moving average price is $16.48. The stock has a market cap of $704.09 million, a price-to-earnings ratio of 47.55 and a beta of 1.41. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36.

Institutional Trading of PubMatic

Hedge funds and other institutional investors have recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new position in PubMatic during the second quarter valued at about $29,000. Founders Capital Management lifted its holdings in PubMatic by 100.0% in the 3rd 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 during the last quarter. Headlands Technologies LLC bought a new position in shares of PubMatic during the 2nd quarter valued at about $38,000. New York State Teachers Retirement System acquired a new position in shares of PubMatic in the 3rd quarter worth approximately $51,000. Finally, FMR LLC raised its holdings in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

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

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.