PubMatic, Inc. (NASDAQ:PUBM) Insider Sells $115,640.00 in Stock

PubMatic, Inc. (NASDAQ:PUBM - Get Free Report) insider Mukul Kumar sold 7,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $16.52, for a total value of $115,640.00. Following the completion of the transaction, the insider now owns 44,888 shares of the company's stock, valued at $741,549.76. The trade was a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mukul Kumar also recently made the following trade(s):

• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Price Performance

PUBM stock traded down $0.24 during mid-day trading on Tuesday, reaching $16.27. The company had a trading volume of 268,296 shares, compared to its average volume of 457,789. The stock has a 50 day simple moving average of $15.66 and a two-hundred day simple moving average of $17.12. The company has a market capitalization of $777.22 million, a price-to-earnings ratio of 52.48 and a beta of 1.40. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Founders Capital Management lifted its position in shares of 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 during the last quarter. Redwood Wealth Management Group LLC acquired a new position in PubMatic in the 2nd quarter valued at $29,000. Versor Investments LP increased its stake in shares of PubMatic by 8.2% in the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company's stock valued at $451,000 after purchasing an additional 1,677 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of PubMatic in the 2nd quarter valued at $38,000. Finally, Mesirow Financial Investment Management Inc. increased its stake in shares of PubMatic by 25.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company's stock valued at $247,000 after purchasing an additional 2,453 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Macquarie reiterated a "neutral" rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They issued a "sector perform" rating and a $17.00 price target for the company. Royal Bank of Canada dropped their price objective on PubMatic from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 20th. Finally, Evercore ISI increased their price target on PubMatic from $20.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, PubMatic presently has an average rating of "Moderate Buy" and an average price target of $21.13.

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.