PubMatic, Inc. (NASDAQ:PUBM) Insider Mukul Kumar Sells 7,000 Shares

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $16.52, for a total value of $115,640.00. Following the sale, the insider now directly owns 44,888 shares in the company, valued at $741,549.76. This trade represents a 13.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $115,780.00.

PubMatic Stock Down 1.5 %

Shares of NASDAQ PUBM opened at $16.27 on Wednesday. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The firm has a market cap of $777.17 million, a PE ratio of 52.48 and a beta of 1.40. The business has a fifty day simple moving average of $15.66 and a two-hundred day simple moving average of $17.12.

Analyst Ratings Changes

Several analysts recently weighed in on PUBM shares. Scotiabank began coverage on PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target on the stock. Macquarie reissued a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Finally, Evercore ISI upped their price target on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, PubMatic presently has an average rating of “Moderate Buy” and a consensus price target of $21.13.

Hedge Funds Weigh In On PubMatic

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock valued at $11,187,000 after acquiring an additional 519,275 shares in the last quarter. Millennium Management LLC acquired a new position in shares of PubMatic during the second quarter valued at about $6,582,000. Victory Capital Management Inc. raised its position in shares of PubMatic by 99.2% in the 3rd quarter. Victory Capital Management Inc. now owns 72,083 shares of the company’s stock valued at $1,072,000 after purchasing an additional 35,898 shares during the last quarter. Renaissance Technologies LLC boosted 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 purchasing an additional 265,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in PubMatic by 122.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after purchasing an additional 239,406 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

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.