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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $16.51, for a total value of $115,570.00. Following the transaction, the insider now directly owns 52,005 shares of the company’s stock, valued at $858,602.55. This represents a 11.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Mukul Kumar also recently made the following trade(s):

• On Thursday, January 2nd, Mukul Kumar sold 4,480 shares of PubMatic stock. The stock was sold at an average price of $14.84, for a total value of $66,483.20.
• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.52, for a total transaction of $115,640.00.
• 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 Trading Up 0.5 %

PUBM stock traded up $0.09 during trading on Tuesday, hitting $16.66. The company had a trading volume of 268,333 shares, compared to its average volume of 296,449. The company has a fifty day moving average price of $15.40 and a two-hundred day moving average price of $15.55. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The company has a market cap of $795.85 million, a P/E ratio of 53.74 and a beta of 1.41.

Institutional Investors Weigh In On PubMatic

Several institutional investors and hedge funds have recently made changes to their positions in PUBM. SBI Securities Co. Ltd. bought a new position in PubMatic during the 4th quarter valued at about $27,000. New York State Teachers Retirement System acquired a new stake in shares of PubMatic during the third quarter worth approximately $51,000. FMR LLC raised its stake in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after acquiring an additional 2,709 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $77,000 after acquiring an additional 4,855 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in PubMatic during the 4th quarter worth approximately $106,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Ratings Changes

PUBM has been the topic of several research reports. Evercore ISI boosted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of PubMatic in a research note on Monday, January 27th. 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 report on Friday, January 3rd. Macquarie restated a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research report on Thursday, November 14th. Finally, Scotiabank assumed coverage on PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.