PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel Sells 17,793 Shares

PubMatic, Inc. (NASDAQ:PUBM) CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $264,048.12. Following the completion of the sale, the chief executive officer now directly owns 30,896 shares of the company’s stock, valued at approximately $458,496.64. This represents a 36.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PubMatic Trading Up 3.4 %

Shares of NASDAQ PUBM traded up $0.50 during mid-day trading on Friday, reaching $15.33. The company had a trading volume of 271,287 shares, compared to its average volume of 258,891. The company has a 50-day moving average price of $15.68 and a two-hundred day moving average price of $16.67. The stock has a market cap of $732.27 million, a PE ratio of 49.45 and a beta of 1.40. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36.

Hedge Funds Weigh In On PubMatic

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

Wall Street Analyst Weigh In

Several brokerages recently commented on PUBM. Macquarie reissued a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. 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 on the stock. Evercore ISI upped their price objective on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada lowered their target price on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.