PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 24,891 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $15.14, for a total transaction of $376,849.74. Following the completion of the sale, the chief executive officer now owns 5,896 shares of the company’s stock, valued at $89,265.44. The trade was a 80.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

PubMatic Stock Performance

NASDAQ:PUBM traded up $0.04 during trading hours on Wednesday, reaching $15.58. The company’s stock had a trading volume of 200,159 shares, compared to its average volume of 293,607. The company has a market capitalization of $744.26 million, a P/E ratio of 50.26 and a beta of 1.41. The stock has a 50 day moving average price of $15.40 and a two-hundred day moving average price of $15.72. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36.

Analyst Upgrades and Downgrades

PUBM has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Evercore ISI raised their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Macquarie reiterated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Finally, Scotiabank initiated 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in PubMatic by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 25,178 shares of the company’s stock worth $370,000 after purchasing an additional 2,234 shares in the last quarter. FMR LLC raised its stake in PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares during the last quarter. New York State Teachers Retirement System acquired a new position in PubMatic during the third quarter worth about $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PubMatic by 37.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after buying an additional 3,461 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after purchasing an additional 4,855 shares during 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.