PubMatic, Inc. (NASDAQ:PUBM) Chairman Sells $60,651.08 in Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the completion of the sale, the chairman now directly owns 14,044 shares in the company, valued at approximately $208,412.96. The trade was a 22.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

PubMatic Price Performance

NASDAQ PUBM opened at $15.33 on Monday. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. The business’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $16.57.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PUBM shares. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Macquarie restated a “neutral” rating and set a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Scotiabank assumed coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock valued at $24,142,000 after acquiring an additional 265,700 shares during the period. Geode Capital Management LLC raised its position in PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after purchasing an additional 7,225 shares during the period. Wellington Management Group LLP lifted its stake in shares of PubMatic by 222.8% during the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after purchasing an additional 519,275 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of PubMatic by 17.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after buying an additional 100,479 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares in the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

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.