Rajeev K. Goel Sells 18,391 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 18,391 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.44, for a total value of $283,957.04. Following the completion of the transaction, the chief executive officer now owns 12,505 shares of the company’s stock, valued at $193,077.20. This trade represents a 59.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PubMatic Stock Down 0.7 %

Shares of NASDAQ:PUBM traded down $0.10 during trading on Wednesday, hitting $14.74. 233,812 shares of the stock traded hands, compared to its average volume of 270,602. The company has a fifty day moving average price of $15.68 and a two-hundred day moving average price of $16.50. PubMatic, Inc. has a 52-week low of $13.18 and a 52-week high of $25.36. The company has a market cap of $704.09 million, a price-to-earnings ratio of 47.55 and a beta of 1.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of PubMatic by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,134 shares of the company’s stock worth $3,171,000 after buying an additional 11,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PubMatic by 56.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock valued at $185,000 after purchasing an additional 3,280 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of PubMatic by 14.8% in the second quarter. Principal Financial Group Inc. now owns 30,236 shares of the company’s stock valued at $614,000 after purchasing an additional 3,894 shares during the period. Acadian Asset Management LLC increased its stake in shares of PubMatic by 28,255.4% during the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock worth $5,915,000 after purchasing an additional 290,465 shares in the last quarter. Finally, Quest Partners LLC raised its position in shares of PubMatic by 561.8% during the 2nd quarter. Quest Partners LLC now owns 17,583 shares of the company’s stock worth $357,000 after purchasing an additional 14,926 shares during the last quarter. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PUBM shares. Scotiabank started coverage on PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 price objective for the company. Macquarie reissued a “neutral” rating and set a $19.00 price target on shares of PubMatic in a research report on Thursday, November 14th. Royal Bank of Canada dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI raised their target price on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PubMatic currently has an average 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.