PubMatic, Inc. (NASDAQ:PUBM) CEO Sells $376,849.74 in Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $376,849.74. Following the transaction, the chief executive officer now directly owns 5,896 shares in the company, valued at approximately $89,265.44. This represents a 80.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PubMatic Price Performance

Shares of NASDAQ:PUBM opened at $16.43 on Friday. The business’s 50 day simple moving average is $15.41 and its 200-day simple moving average is $15.68. The firm has a market capitalization of $784.86 million, a price-to-earnings ratio of 53.00 and a beta of 1.41. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36.

Institutional Investors Weigh In On PubMatic

Several institutional investors have recently modified their holdings of PUBM. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic during the 4th quarter worth approximately $27,000. New York State Teachers Retirement System acquired a new position in shares of PubMatic during the 3rd quarter worth approximately $51,000. FMR LLC raised its position in shares of PubMatic by 201.6% during the 3rd 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 raised its position in shares of PubMatic by 1,387.1% during the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after purchasing an additional 4,855 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of PubMatic during the 3rd quarter worth approximately $161,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI lifted their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Royal Bank of Canada lowered their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Scotiabank assumed coverage on PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a report on Monday, January 27th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. 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, PubMatic currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.