PubMatic, Inc. (NASDAQ:PUBM) General Counsel Sells $52,370.36 in Stock

PubMatic, Inc. (NASDAQ:PUBM) General Counsel Andrew Woods sold 3,529 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total value of $52,370.36. Following the completion of the transaction, the general counsel now directly owns 34,702 shares of the company’s stock, valued at approximately $514,977.68. The trade was a 9.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

PubMatic Stock Up 3.4 %

Shares of NASDAQ PUBM opened at $15.33 on Monday. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The business’s 50 day moving average price is $15.69 and its 200 day moving average price is $16.57. The firm has a market cap of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40.

Institutional Trading of PubMatic

Several large investors have recently made changes to their positions in PUBM. Wellington Management Group LLP boosted its holdings in PubMatic by 222.8% in the third quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after purchasing an additional 519,275 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of PubMatic in the second quarter worth about $6,582,000. Acadian Asset Management LLC grew its holdings in PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after acquiring an additional 290,465 shares during the period. Renaissance Technologies LLC raised its position in PubMatic by 28.8% during the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 acquiring an additional 239,406 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PUBM. Macquarie reissued 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 for the company. 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 research note on Friday. Finally, Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.63.

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.