Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Insider Sells 7,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.54, for a total value of $115,780.00. Following the completion of the transaction, the insider now directly owns 44,888 shares in the company, valued at $742,447.52. This trade represents a 13.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PubMatic Stock Performance

Shares of PubMatic stock traded up $0.26 during trading on Wednesday, hitting $16.94. 313,321 shares of the company’s stock were exchanged, compared to its average volume of 463,985. The stock has a market capitalization of $809.22 million, a price-to-earnings ratio of 54.65 and a beta of 1.40. The business has a 50-day simple moving average of $15.27 and a 200-day simple moving average of $17.59. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36.

Institutional Trading of PubMatic

A number of hedge funds have recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic during the second quarter worth about $29,000. Founders Capital Management lifted its position in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of PubMatic during the 2nd quarter worth approximately $38,000. New York State Teachers Retirement System acquired a new position in PubMatic in the 3rd quarter valued at about $51,000. Finally, FMR LLC increased 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 worth $60,000 after acquiring an additional 2,709 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. B. Riley dropped their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI upped their target price on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group lowered their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.71.

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.