PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 17,793 Shares

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 17,793 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $264,048.12. Following the transaction, the chief executive officer now directly owns 30,896 shares of the company's stock, valued at $458,496.64. The trade was a 36.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

PubMatic Price Performance

Shares of PubMatic stock traded up $0.50 during trading on Friday, hitting $15.33. 271,500 shares of the stock were exchanged, compared to its average volume of 268,150. The stock has a market cap of $732.27 million, a price-to-earnings ratio of 49.45 and a beta of 1.40. The firm's 50-day moving average price is $15.68 and its 200 day moving average price is $16.67. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Redwood Wealth Management Group LLC purchased a new stake in PubMatic during the second quarter worth approximately $29,000. Founders Capital Management lifted its position in shares of PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company's stock worth $30,000 after buying an additional 1,000 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of PubMatic during the 2nd quarter worth approximately $38,000. New York State Teachers Retirement System acquired a new position in shares of PubMatic in the 3rd quarter valued at $51,000. Finally, FMR LLC grew its position in shares of 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 buying an additional 2,709 shares during the last quarter. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased 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. Macquarie reissued a "neutral" rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Evercore ISI lifted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Scotiabank initiated coverage on shares of PubMatic in a report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.