Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) CEO Sells 24,891 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) CEO Rajeev K. Goel sold 24,891 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the sale, the chief executive officer now directly owns 5,896 shares in the company, valued at $89,265.44. This trade represents a 80.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

PubMatic Price Performance

Shares of NASDAQ:PUBM traded up $0.59 during midday trading on Friday, hitting $16.43. The company had a trading volume of 301,793 shares, compared to its average volume of 284,180. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The company has a fifty day moving average of $15.41 and a two-hundred day moving average of $15.59. The company has a market cap of $784.86 million, a price-to-earnings ratio of 53.00 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank began coverage on shares of PubMatic in a report on Thursday, December 5th. They set a "sector perform" rating and a $17.00 price target on the stock. Royal Bank of Canada dropped their target price on shares of PubMatic from $21.00 to $19.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of PubMatic in a research note on Monday, January 27th. Evercore ISI raised their price target on PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Institutional Trading of PubMatic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of PubMatic during the 4th quarter valued at about $27,000. New York State Teachers Retirement System purchased a new position in PubMatic during the third quarter valued at approximately $51,000. FMR LLC boosted its position in shares of PubMatic by 201.6% in the third quarter. FMR LLC now owns 4,053 shares of the company's stock worth $60,000 after purchasing an additional 2,709 shares during the period. International Assets Investment Management LLC boosted its position in shares of PubMatic by 1,387.1% in the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company's stock worth $77,000 after purchasing an additional 4,855 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in shares of PubMatic in the third quarter worth $161,000. Hedge funds and other institutional investors own 64.26% of the company's stock.

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.