Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 17,793 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $264,048.12. Following the completion of the sale, the chief executive officer now owns 30,896 shares of the company’s stock, valued at approximately $458,496.64. This trade represents a 36.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PubMatic Price Performance

PUBM opened at $15.33 on Monday. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The stock has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. The business has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $16.57.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Finally, Evercore ISI upped their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Four 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, PubMatic presently has a consensus rating of “Moderate Buy” and an average target price of $20.63.

Institutional Investors Weigh In On PubMatic

A number of hedge funds and other institutional investors have recently bought and sold shares of PUBM. Wellington Management Group LLP grew its stake in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares during the period. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter valued at $6,582,000. Acadian Asset Management LLC increased its stake in PubMatic by 28,255.4% in the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after purchasing an additional 290,465 shares during the last quarter. Renaissance Technologies LLC lifted its position in PubMatic by 28.8% during the second quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after buying an additional 265,700 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after buying an additional 239,406 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

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.