PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 4,480 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 $66,483.20. Following the sale, the insider now owns 52,005 shares in the company, valued at approximately $771,754.20. This represents a 7.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Mukul Kumar also recently made the following trade(s):
- On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were 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 stock was sold at an average price of $16.54, for a total value of $115,780.00.
PubMatic Price Performance
NASDAQ PUBM traded up $0.50 on Friday, hitting $15.33. 271,500 shares of the company were exchanged, compared to its average volume of 268,150. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. The company's 50 day moving average price is $15.69 and its 200-day moving average price is $16.63.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in PubMatic by 222.8% in the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company's stock worth $11,187,000 after purchasing an additional 519,275 shares during the period. Millennium Management LLC acquired a new stake in shares of PubMatic in the second quarter worth $6,582,000. Victory Capital Management Inc. grew its holdings in shares of PubMatic by 99.2% during the third quarter. Victory Capital Management Inc. now owns 72,083 shares of the company's stock valued at $1,072,000 after buying an additional 35,898 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company's stock valued at $6,466,000 after buying an additional 239,406 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in PubMatic by 28.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company's stock worth $24,142,000 after acquiring an additional 265,700 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on PUBM shares. Scotiabank assumed coverage on PubMatic in a research report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 price target on the stock. Macquarie reaffirmed a "neutral" rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Evercore ISI boosted their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.63.
Check Out Our Latest Stock Report on PubMatic
About PubMatic
(
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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.
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