Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 25,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.31, for a total value of $407,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rajeev K. Goel also recently made the following trade(s):

• On Tuesday, October 1st, Rajeev K. Goel sold 25,000 shares of PubMatic stock. The shares were sold at an average price of $14.46, for a total value of $361,500.00.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $16.81 on Friday. The company has a market cap of $803.01 million, a P/E ratio of 54.23 and a beta of 1.40. PubMatic, Inc. has a 1 year low of $13.18 and a 1 year high of $25.36. The stock’s fifty day moving average price is $15.35 and its 200-day moving average price is $17.58.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in PubMatic in the second quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic during the second quarter worth about $38,000. Founders Capital Management boosted 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 buying an additional 1,000 shares during the last quarter. New York State Teachers Retirement System bought a new position in PubMatic during the third quarter valued at approximately $51,000. Finally, FMR LLC boosted its stake in 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 buying an additional 2,709 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group dropped their price objective on PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada lowered their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, Scotiabank assumed coverage on PubMatic in a report on Thursday. They set a “sector perform” rating and a $17.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently 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.