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 stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 12,505 shares of the company’s stock, valued at $193,077.20. This trade represents a 59.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PubMatic Stock Down 0.7 %

Shares of PubMatic stock opened at $14.74 on Friday. The business has a 50-day moving average price of $15.68 and a 200 day moving average price of $16.48. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36. The firm has a market cap of $704.09 million, a P/E ratio of 47.55 and a beta of 1.41.

Institutional Investors Weigh In On PubMatic

A number of institutional investors have recently made changes to their positions in PUBM. Redwood Wealth Management Group LLC acquired a new position in PubMatic in the second quarter worth $29,000. Founders Capital Management lifted its position in shares of PubMatic by 100.0% in 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 acquired a new position in shares of PubMatic in the 2nd quarter valued at about $38,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic during the 3rd quarter valued at about $51,000. Finally, FMR LLC raised its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the period. 64.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.