PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 4,480 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of PubMatic stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $66,483.20. Following the completion of the sale, the insider now directly owns 52,005 shares in the company, valued at $771,754.20. This trade represents a 7.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mukul Kumar also recently made the following trade(s):

• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.52, for a total value of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Stock Performance

PubMatic stock opened at $15.33 on Friday. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The stock has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. The firm’s fifty day moving average price is $15.69 and its 200-day moving average price is $16.63.

Institutional Trading of PubMatic

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its position in shares of PubMatic by 28.8% in the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the last quarter. Geode Capital Management LLC grew its stake in PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after buying an additional 7,225 shares in the last quarter. Wellington Management Group LLP grew its stake in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after buying an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after buying an additional 100,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares in the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

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

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.