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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $66,483.20. Following the transaction, the insider now directly owns 52,005 shares of the company’s stock, valued at $771,754.20. This represents a 7.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $115,780.00.

PubMatic Trading Up 3.4 %

PUBM stock opened at $15.33 on Monday. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The business’s 50 day simple moving average is $15.69 and its 200 day simple moving average is $16.57. The firm has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PUBM. Scotiabank assumed coverage on shares of PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Evercore ISI upped 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 target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Macquarie reiterated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $20.63.

Hedge Funds Weigh In On PubMatic

Large investors have recently modified their holdings of the stock. Redwood Wealth Management Group LLC acquired a new position in PubMatic in the 2nd quarter valued at about $29,000. Headlands Technologies LLC bought a new stake in shares of PubMatic during the second quarter worth approximately $38,000. Founders Capital Management grew its position in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of PubMatic during the third quarter worth approximately $51,000. Finally, FMR LLC lifted its holdings in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the last quarter. 64.26% of the stock is owned by institutional investors.

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.