Mukul Kumar Sells 4,480 Shares of PubMatic, Inc. (NASDAQ:PUBM) Stock

PubMatic, Inc. (NASDAQ:PUBM) insider Mukul Kumar sold 4,480 shares of PubMatic stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $66,483.20. Following the completion of the transaction, the insider now owns 52,005 shares in the company, valued at approximately $771,754.20. The trade was a 7.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mukul Kumar also recently made the following trade(s):

• On Monday, December 16th, Mukul Kumar sold 7,000 shares of PubMatic stock. The shares were sold at an average price of $16.52, for a total value of $115,640.00.
• On Monday, December 2nd, Mukul Kumar sold 7,000 shares of PubMatic stock. The stock was sold at an average price of $16.54, for a total value of $115,780.00.

PubMatic Trading Up 3.4 %

Shares of PUBM opened at $15.33 on Friday. The stock’s 50-day moving average price is $15.69 and its two-hundred day moving average price is $16.60. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36. The company has a market capitalization of $732.27 million, a PE ratio of 49.45 and a beta of 1.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PUBM shares. Macquarie reaffirmed a “neutral” rating and set a $19.00 price target on shares of PubMatic in a report on Thursday, November 14th. Scotiabank began coverage on shares of PubMatic in a report on Thursday, December 5th. They set a “sector perform” rating and a $17.00 price target for the company. Royal Bank of Canada cut their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Evercore ISI upped their target price on 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 issued a buy rating to the stock. Based on data from MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” and an average price target of $20.63.

Hedge Funds Weigh In On PubMatic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Founders Capital Management increased its position in PubMatic by 100.0% during the 3rd 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 during the period. Redwood Wealth Management Group LLC bought a new stake in shares of PubMatic in the 2nd quarter valued at $29,000. Versor Investments LP increased its position in shares of PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after buying an additional 1,677 shares during the period. Headlands Technologies LLC bought a new position in PubMatic during the second quarter worth $38,000. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in PubMatic by 25.3% in the second quarter. Mesirow Financial Investment Management Inc. now owns 12,142 shares of the company’s stock valued at $247,000 after buying an additional 2,453 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.

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.