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 PubMatic 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 sale, the chief executive officer now directly owns 30,896 shares of the company’s stock, valued at $458,496.64. This trade represents a 36.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PubMatic Trading Up 3.4 %

PUBM traded up $0.50 during midday trading on Friday, reaching $15.33. The company’s stock had a trading volume of 271,287 shares, compared to its average volume of 258,891. The company has a fifty day simple moving average of $15.68 and a 200 day simple moving average of $16.67. The stock has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PUBM shares. Scotiabank began coverage on PubMatic in a research report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Macquarie reiterated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada dropped their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Evercore ISI lifted 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.63.

Institutional Investors Weigh In On PubMatic

Several hedge funds and other institutional investors have recently modified their holdings of PUBM. Redwood Wealth Management Group LLC bought a new stake in PubMatic in the 2nd quarter valued at $29,000. Founders Capital Management lifted its stake in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the period. Headlands Technologies LLC acquired a new stake in PubMatic during the second quarter worth about $38,000. New York State Teachers Retirement System bought a new position in PubMatic in the third quarter worth $51,000. Finally, FMR LLC boosted its stake 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 buying an additional 2,709 shares in the last quarter. Institutional investors and hedge funds 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.