Rajeev K. Goel Sells 24,891 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 24,891 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the transaction, the chief executive officer now directly owns 5,896 shares of the company’s stock, valued at $89,265.44. This represents a 80.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PubMatic Stock Performance

Shares of NASDAQ PUBM opened at $15.84 on Friday. The firm’s 50-day simple moving average is $15.40 and its 200 day simple moving average is $15.72. The stock has a market cap of $756.68 million, a price-to-earnings ratio of 51.10 and a beta of 1.41. PubMatic, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $25.36.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in PubMatic during the second quarter worth $6,582,000. Truist Financial Corp purchased a new position in PubMatic during the 2nd quarter worth $380,000. SG Americas Securities LLC boosted its holdings in PubMatic by 170.6% during the 3rd quarter. SG Americas Securities LLC now owns 24,223 shares of the company’s stock worth $360,000 after acquiring an additional 15,273 shares during the last quarter. Leibman Financial Services Inc. grew its stake in shares of PubMatic by 19.4% in the 3rd quarter. Leibman Financial Services Inc. now owns 48,459 shares of the company’s stock worth $721,000 after acquiring an additional 7,880 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of PubMatic by 57.6% in the third quarter. Inspire Investing LLC now owns 27,659 shares of the company’s stock valued at $411,000 after purchasing an additional 10,109 shares during the last quarter. Institutional investors own 64.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.