Mukul Kumar Sells 4,480 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $66,483.20. Following the sale, the insider now directly owns 52,005 shares in the company, valued at $771,754.20. This trade represents a 7.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $115,780.00.

PubMatic Stock Performance

Shares of NASDAQ PUBM traded up $0.50 during mid-day trading on Friday, hitting $15.33. The stock had a trading volume of 271,500 shares, compared to its average volume of 268,150. The company has a 50 day moving average of $15.68 and a two-hundred day moving average of $16.67. 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 $732.27 million, a PE ratio of 49.45 and a beta of 1.40.

Institutional Investors Weigh In On PubMatic

Large investors have recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of PubMatic in the 2nd quarter valued at $29,000. Founders Capital Management lifted its holdings in shares of PubMatic by 100.0% in the 3rd 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 period. 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 purchased a new stake in shares of PubMatic in the third quarter worth about $51,000. Finally, FMR LLC grew its holdings 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. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday. Scotiabank assumed coverage on shares of PubMatic in a report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target on the stock. Evercore ISI increased their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Macquarie restated a “neutral” rating and set a $19.00 target price 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 given a buy rating to the company. According to data from MarketBeat, PubMatic currently has an average rating of “Moderate Buy” and an average target price of $20.63.

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.