PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods Sells 3,529 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,529 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $52,370.36. Following the completion of the sale, the general counsel now directly owns 34,702 shares in the company, valued at approximately $514,977.68. This represents a 9.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PubMatic Stock Up 3.4 %

Shares of NASDAQ:PUBM opened at $15.33 on Friday. The business’s 50 day moving average is $15.69 and its 200 day moving average is $16.63. The stock has a market cap of $732.27 million, a P/E 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.

Wall Street Analysts Forecast Growth

PUBM has been the topic of several analyst reports. Royal Bank of Canada cut their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Macquarie reaffirmed a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank began coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target for the company. Finally, Evercore ISI upped their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.63.

Hedge Funds Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in PubMatic by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock worth $3,171,000 after acquiring an additional 11,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PubMatic by 56.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the period. Principal Financial Group Inc. lifted its position in shares of PubMatic by 14.8% in the 2nd quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock worth $614,000 after purchasing an additional 3,894 shares during the period. Versor Investments LP boosted its stake in shares of PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after buying an additional 290,465 shares during the period. Institutional investors own 64.26% of the company’s stock.

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.