PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel Sells 4,087 Shares

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the completion of the transaction, the chairman now directly owns 14,044 shares of the company’s stock, valued at approximately $208,412.96. This trade represents a 22.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PubMatic Trading Up 3.4 %

NASDAQ:PUBM traded up $0.50 during trading hours on Friday, reaching $15.33. The company had a trading volume of 271,287 shares, compared to its average volume of 258,891. PubMatic, Inc. has a 52 week low of $13.18 and a 52 week high of $25.36. The firm has a market cap of $732.27 million, a price-to-earnings ratio of 49.45 and a beta of 1.40. The firm’s 50 day moving average price is $15.68 and its 200-day moving average price is $16.67.

Hedge Funds Weigh In On PubMatic

A number of hedge funds have recently modified their holdings of PUBM. Founders Capital Management lifted its position in shares of PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares in the last quarter. Redwood Wealth Management Group LLC bought a new position in PubMatic in the second quarter worth approximately $29,000. Versor Investments LP raised its holdings in shares of PubMatic by 8.2% in the 2nd quarter. Versor Investments LP now owns 22,186 shares of the company’s stock valued at $451,000 after purchasing an additional 1,677 shares in the last quarter. Headlands Technologies LLC bought a new stake in PubMatic during the second quarter valued at about $38,000. Finally, Mesirow Financial Investment Management Inc. grew its holdings in PubMatic by 25.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock worth $247,000 after purchasing an additional 2,453 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PUBM. Scotiabank started coverage on shares of PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price target on the stock. Royal Bank of Canada decreased their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday. Evercore ISI upped their price target on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Macquarie reiterated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.