PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel Sells 4,087 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the sale, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

PubMatic Stock Up 3.4 %

Shares of PUBM opened at $15.33 on Friday. The business has a fifty day moving average of $15.69 and a 200 day moving average of $16.63. The company has a market cap of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently made changes to their positions in PUBM. Wellington Management Group LLP grew its holdings in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter worth approximately $6,582,000. Acadian Asset Management LLC lifted its stake in shares of PubMatic by 28,255.4% during the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after acquiring an additional 290,465 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after acquiring an additional 239,406 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Evercore ISI lifted 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. Royal Bank of Canada decreased their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Macquarie reissued a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Finally, Scotiabank initiated coverage on shares of PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, PubMatic presently has an average 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.