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 PubMatic 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 sale, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. This trade represents a 9.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

PubMatic Price Performance

PUBM stock opened at $15.33 on Friday. The firm has a market cap of $732.27 million, a PE ratio of 49.45 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 firm has a 50 day simple moving average of $15.69 and a 200 day simple moving average of $16.60.

Institutional Investors Weigh In On PubMatic

A number of institutional investors and hedge funds have recently modified their holdings of PUBM. Redwood Wealth Management Group LLC acquired a new position in shares of PubMatic in the 2nd quarter worth $29,000. Headlands Technologies LLC acquired a new position in shares of PubMatic in the 2nd quarter valued at $38,000. Founders Capital Management increased its stake in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in PubMatic during the 3rd quarter worth about $51,000. Finally, FMR LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

PUBM has been the topic of several recent analyst reports. Macquarie reaffirmed a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Evercore ISI upped 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. Royal Bank of Canada lowered their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Scotiabank began 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 for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.