Mukul Kumar Sells 7,000 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 7,000 shares of PubMatic stock in a transaction that occurred 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 sale, the insider now owns 52,005 shares in the company, valued at $858,602.55. This represents a 11.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were 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 stock was sold at an average price of $16.52, for a total transaction 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 transaction of $115,780.00.

PubMatic Trading Up 2.9 %

PubMatic stock opened at $17.14 on Thursday. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The stock has a fifty day simple moving average of $15.41 and a two-hundred day simple moving average of $15.52. The firm has a market cap of $818.73 million, a price-to-earnings ratio of 55.29 and a beta of 1.41.

Analysts Set New Price Targets

PUBM has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Scotiabank assumed coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price objective for the company. Macquarie reissued a “neutral” rating and issued a $19.00 target price on shares of PubMatic in a research note on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and an average target price of $20.00.

Hedge Funds Weigh In On PubMatic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in PubMatic by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 961,155 shares of the company’s stock worth $14,295,000 after purchasing an additional 7,225 shares during the period. Wellington Management Group LLP increased its position in PubMatic by 19.4% in the fourth quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after buying an additional 145,641 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in PubMatic by 17.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 676,464 shares of the company’s stock worth $10,059,000 after acquiring an additional 100,479 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of PubMatic by 122.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock worth $6,466,000 after purchasing an additional 239,406 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in PubMatic by 377.4% in the 4th quarter. Nordea Investment Management AB now owns 340,544 shares of the company’s stock worth $5,101,000 after buying an additional 269,217 shares in the last quarter. Institutional investors own 64.26% of the company’s stock.

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.