PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar 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 on Monday, December 16th. The shares were sold at an average price of $16.52, for a total value of $115,640.00. Following the transaction, the insider now directly owns 44,888 shares of the company’s stock, valued at $741,549.76. This represents a 13.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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

Shares of PubMatic stock opened at $16.27 on Wednesday. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The company has a market capitalization of $777.17 million, a P/E ratio of 52.48 and a beta of 1.40. The company has a fifty day moving average of $15.66 and a 200 day moving average of $17.12.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upped their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Scotiabank initiated coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Royal Bank of Canada decreased their target price on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Macquarie restated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.13.

Hedge Funds Weigh In On PubMatic

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in PubMatic by 28.8% in the 2nd 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 in the last quarter. Geode Capital Management LLC raised its position in shares of PubMatic by 0.8% during the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after buying an additional 7,225 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PubMatic by 222.8% in the third 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. boosted its position in shares of PubMatic by 17.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after acquiring an additional 100,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in PubMatic by 122.5% during the third 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 in the last quarter. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

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.