Insider Selling: PubMatic, Inc. (NASDAQ:PUBM) Insider Sells 7,000 Shares of Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $16.51, for a total value of $115,570.00. Following the completion of the transaction, the insider now directly owns 52,005 shares in the company, valued at $858,602.55. This represents a 11.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, January 2nd, Mukul Kumar sold 4,480 shares of PubMatic stock. The stock was sold at an average price of $14.84, for a total value of $66,483.20.
• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.52, for a total value of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded up $0.09 during mid-day trading on Tuesday, reaching $16.66. The company had a trading volume of 268,333 shares, compared to its average volume of 296,449. The stock has a market capitalization of $795.85 million, a PE ratio of 53.74 and a beta of 1.41. PubMatic, Inc. has a twelve month low of $13.18 and a twelve month high of $25.36. The stock’s 50 day moving average is $15.40 and its 200-day moving average is $15.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PUBM. Wellington Management Group LLP boosted its stake in shares of PubMatic by 222.8% during the 3rd quarter. Wellington Management Group LLP now owns 752,329 shares of the company’s stock worth $11,187,000 after acquiring an additional 519,275 shares in the last quarter. Avestar Capital LLC acquired a new stake in PubMatic in the 4th quarter worth approximately $4,701,000. Nordea Investment Management AB boosted its position in PubMatic by 377.4% during the fourth quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after purchasing an additional 269,217 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in PubMatic by 122.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after purchasing an additional 239,406 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of PubMatic by 17.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock valued at $10,059,000 after purchasing an additional 100,479 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of PubMatic in a report on Monday, January 27th. Royal Bank of Canada reduced their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research 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 research report on Wednesday, November 13th. Scotiabank started coverage on PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Finally, Macquarie reiterated a “neutral” rating and set a $19.00 price target on shares of PubMatic in a report 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

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.