PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $16.52, for a total transaction of $115,640.00. Following the completion of the sale, the insider now directly owns 44,888 shares of the company’s stock, valued at approximately $741,549.76. This trade represents a 13.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $115,780.00.

PubMatic Stock Performance

PubMatic stock opened at $15.59 on Thursday. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The stock has a market cap of $744.69 million, a PE ratio of 50.29 and a beta of 1.40. The stock has a 50-day moving average of $15.68 and a two-hundred day moving average of $17.11.

Analyst Upgrades and Downgrades

PUBM has been the topic of several research reports. Evercore ISI lifted their price objective 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 assumed coverage on PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target for the company. Finally, Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.13.

Hedge Funds Weigh In On PubMatic

Several hedge funds and other institutional investors have recently modified their holdings of PUBM. SG Americas Securities LLC increased its stake in PubMatic by 97.6% during the 2nd quarter. SG Americas Securities LLC now owns 8,950 shares of the company’s stock valued at $182,000 after purchasing an additional 4,420 shares in the last quarter. EFG Asset Management North America Corp. raised its stake in PubMatic by 33.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 100,938 shares of the company’s stock worth $2,049,000 after acquiring an additional 25,327 shares during the last quarter. Bank of New York Mellon Corp lifted its position in PubMatic by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock worth $3,171,000 after acquiring an additional 11,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of PubMatic by 7.0% in the second quarter. Panagora Asset Management Inc. now owns 227,948 shares of the company’s stock valued at $4,630,000 after purchasing an additional 14,907 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.