PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 18,391 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 18,391 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the transaction, the chief executive officer now directly owns 12,505 shares of the company’s stock, valued at approximately $193,077.20. This trade represents a 59.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PubMatic Price Performance

PubMatic stock opened at $14.74 on Thursday. The stock has a market capitalization of $704.09 million, a P/E ratio of 47.55 and a beta of 1.41. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The firm’s 50-day moving average is $15.68 and its two-hundred day moving average is $16.50.

Analyst Ratings Changes

PUBM has been the topic of a number of recent analyst reports. Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Evercore ISI increased their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Scotiabank began coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PubMatic presently has an average rating of “Moderate Buy” and an average price target of $20.63.

Institutional Trading of PubMatic

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Founders Capital Management boosted its stake in PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of PubMatic in the 2nd quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of PubMatic during the 2nd quarter valued at $38,000. Mesirow Financial Investment Management Inc. increased its holdings in shares of PubMatic by 25.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock worth $247,000 after buying an additional 2,453 shares during the last quarter. Finally, FMR LLC grew its position in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the period. 64.26% of the stock is owned by hedge funds and other 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.