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

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of PubMatic stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $66,483.20. Following the completion of the transaction, the insider now owns 52,005 shares of the company’s stock, valued at approximately $771,754.20. This represents a 7.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Stock Up 3.4 %

PUBM stock traded up $0.50 during mid-day trading on Friday, hitting $15.33. 271,500 shares of the company were exchanged, compared to its average volume of 268,150. The business has a fifty day simple moving average of $15.68 and a 200-day simple moving average of $16.67. The firm has a market capitalization of $732.27 million, a P/E ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

Hedge Funds Weigh In On PubMatic

Several hedge funds have recently bought and sold shares of PUBM. JPMorgan Chase & Co. lifted its holdings in PubMatic by 239.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company’s stock worth $927,000 after buying an additional 43,971 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of PubMatic during the third quarter worth $941,000. Virtu Financial LLC acquired a new stake in shares of PubMatic in the third quarter valued at $240,000. Geode Capital Management LLC raised its stake in shares of PubMatic by 0.8% in the third quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock valued at $14,295,000 after acquiring an additional 7,225 shares in the last quarter. Finally, Barclays PLC grew its stake in PubMatic by 93.1% during the 3rd quarter. Barclays PLC now owns 129,196 shares of the company’s stock worth $1,921,000 after purchasing an additional 62,284 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PUBM shares. 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. Scotiabank initiated coverage on PubMatic in a research report on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price on the stock. Evercore ISI boosted their price target on PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Macquarie restated a “neutral” rating and issued a $19.00 price objective on shares of PubMatic in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.