Amar K. Goel Sells 4,087 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total transaction of $60,651.08. Following the sale, the chairman now owns 14,044 shares of the company's stock, valued at approximately $208,412.96. This represents a 22.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PubMatic Price Performance

Shares of PUBM stock traded up $0.50 during trading hours on Friday, reaching $15.33. 271,500 shares of the stock were exchanged, compared to its average volume of 268,150. The business's fifty day moving average is $15.68 and its two-hundred day moving average is $16.67. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

Institutional Investors Weigh In On PubMatic

Large investors have recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic during the 2nd quarter worth $29,000. Founders Capital Management raised its stake in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company's stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC purchased a new stake in PubMatic during the 2nd quarter worth about $38,000. New York State Teachers Retirement System purchased a new stake in PubMatic during the 3rd quarter worth about $51,000. Finally, FMR LLC boosted 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 acquiring an additional 2,709 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PUBM has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday. Scotiabank started coverage on PubMatic in a report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 target price for the company. Macquarie reiterated a "neutral" rating and set a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Finally, 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 note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PubMatic currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.63.

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.