Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Insider Sells 7,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $16.51, for a total transaction of $115,570.00. Following the transaction, the insider now owns 52,005 shares in the company, valued at $858,602.55. This represents a 11.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Mukul Kumar sold 4,480 shares of PubMatic stock. The shares were sold at an average price of $14.84, for a total value of $66,483.20.
• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was 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 shares were sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Stock Performance

PubMatic stock opened at $16.66 on Wednesday. The company has a 50 day moving average price of $15.40 and a 200 day moving average price of $15.51. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The firm has a market capitalization of $795.85 million, a price-to-earnings ratio of 53.74 and a beta of 1.41.

Analyst Upgrades and Downgrades

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

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new position in PubMatic during the fourth quarter valued at $27,000. New York State Teachers Retirement System purchased a new position in PubMatic during the 3rd quarter valued at about $51,000. FMR LLC increased its holdings in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the period. International Assets Investment Management LLC lifted its position in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after purchasing an additional 4,855 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of PubMatic during the fourth quarter worth approximately $106,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.