Rajeev K. Goel Sells 24,891 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of PubMatic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $376,849.74. Following the sale, the chief executive officer now directly owns 5,896 shares of the company’s stock, valued at $89,265.44. This represents a 80.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

PubMatic Stock Performance

Shares of PUBM opened at $15.84 on Friday. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36. The firm has a market cap of $756.68 million, a price-to-earnings ratio of 51.10 and a beta of 1.41. The business’s fifty day moving average is $15.40 and its 200-day moving average is $15.72.

Analyst Ratings Changes

PUBM has been the subject of several analyst reports. Evercore ISI lifted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Macquarie reiterated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Scotiabank initiated coverage on PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Institutional Trading of PubMatic

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the last quarter. Nordea Investment Management AB increased its position in PubMatic by 377.4% during the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in PubMatic by 239.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock valued at $927,000 after purchasing an additional 43,971 shares during the last quarter. Millennium Management LLC bought a new position in PubMatic in the 2nd quarter valued at approximately $6,582,000. Finally, Victory Capital Management Inc. boosted its position in PubMatic by 99.2% in the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after buying an additional 35,898 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

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.