Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 24,891 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $376,849.74. Following the completion of the sale, the chief executive officer now owns 5,896 shares in the company, valued at $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PubMatic Stock Up 0.3 %

Shares of NASDAQ:PUBM traded up $0.04 during trading on Wednesday, hitting $15.58. 200,159 shares of the company were exchanged, compared to its average volume of 293,607. The company has a market capitalization of $744.26 million, a P/E ratio of 50.26 and a beta of 1.41. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The business’s 50 day moving average is $15.40 and its 200-day moving average is $15.72.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On PubMatic

Hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System bought a new stake in shares of PubMatic in the 3rd quarter valued at $51,000. FMR LLC boosted its holdings in PubMatic by 201.6% during the third 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. International Assets Investment Management LLC boosted its stake in shares of PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after buying an additional 4,855 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in PubMatic during the third quarter worth $161,000. Finally, Intech Investment Management LLC purchased a new position in shares of PubMatic in the 3rd quarter worth about $170,000. Institutional investors own 64.26% of the company’s stock.

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.