Amar K. Goel Sells 4,087 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) Chairman Amar K. Goel sold 4,087 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the sale, the chairman now owns 14,044 shares in the company, valued at approximately $208,412.96. This trade represents a 22.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PubMatic Trading Up 3.4 %

Shares of PUBM opened at $15.33 on Friday. The stock has a market capitalization of $732.27 million, a price-to-earnings 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. The firm has a fifty day simple moving average of $15.69 and a 200 day simple moving average of $16.60.

Hedge Funds Weigh In On PubMatic

A number of large investors have recently modified their holdings of PUBM. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic in the second quarter valued at about $29,000. Founders Capital Management grew its stake in PubMatic by 100.0% in the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of PubMatic during the 2nd quarter worth approximately $38,000. New York State Teachers Retirement System bought a new stake in shares of PubMatic during the 3rd quarter worth approximately $51,000. Finally, FMR LLC boosted its holdings in shares of PubMatic by 201.6% in the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after buying an additional 2,709 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PUBM shares. Macquarie reaffirmed a “neutral” rating and set a $19.00 price objective on shares of PubMatic in a research note on Thursday, November 14th. Evercore ISI lifted 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. Scotiabank assumed coverage on PubMatic in a research note on Thursday, December 5th. They set a “sector perform” rating and a $17.00 target price for the company. Finally, Royal Bank of Canada cut their price target on shares of PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.