Rajeev K. Goel Sells 18,391 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 18,391 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $15.44, for a total transaction of $283,957.04. Following the completion of the transaction, the chief executive officer now directly owns 12,505 shares in the company, valued at approximately $193,077.20. This represents a 59.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PubMatic Trading Down 0.7 %

Shares of NASDAQ PUBM opened at $14.74 on Thursday. The firm has a market capitalization of $704.09 million, a PE ratio of 47.55 and a beta of 1.41. PubMatic, Inc. has a one year low of $13.18 and a one year high of $25.36. The business has a 50-day moving average price of $15.68 and a two-hundred day moving average price of $16.50.

Analyst Ratings Changes

PUBM has been the topic of a number of recent analyst reports. Macquarie reaffirmed a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI lifted their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.63.

Institutional Trading of PubMatic

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in PubMatic by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock valued at $3,171,000 after purchasing an additional 11,712 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after acquiring an additional 3,280 shares during the period. Principal Financial Group Inc. raised its stake in shares of PubMatic by 14.8% in the second quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock valued at $614,000 after purchasing an additional 3,894 shares in the last quarter. Acadian Asset Management LLC increased its holdings in PubMatic by 28,255.4% in the 2nd quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after buying an additional 290,465 shares during the period. Finally, Quest Partners LLC raised its stake in shares of PubMatic by 561.8% in the 2nd quarter. Quest Partners LLC now owns 17,583 shares of the company’s stock valued at $357,000 after buying an additional 14,926 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

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.