PubMatic, Inc. (NASDAQ:PUBM – Get Free Report) insider Mukul Kumar sold 8,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $17.05, for a total transaction of $136,400.00. Following the sale, the insider directly owned 112,945 shares in the company, valued at $1,925,712.25. This trade represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mukul Kumar also recently made the following trade(s):
- On Thursday, July 2nd, Mukul Kumar sold 7,897 shares of PubMatic stock. The stock was sold at an average price of $13.65, for a total transaction of $107,794.05.
- On Tuesday, June 2nd, Mukul Kumar sold 8,000 shares of PubMatic stock. The shares were sold at an average price of $11.96, for a total transaction of $95,680.00.
PubMatic Stock Performance
NASDAQ:PUBM traded up $0.09 during mid-day trading on Tuesday, hitting $17.36. The stock had a trading volume of 920,949 shares, compared to its average volume of 694,763. PubMatic, Inc. has a twelve month low of $6.15 and a twelve month high of $18.44. The stock has a market cap of $790.75 million, a price-to-earnings ratio of -57.86 and a beta of 1.54. The company’s 50 day simple moving average is $13.33 and its 200 day simple moving average is $10.35.
Wall Street Analysts Forecast Growth
PUBM has been the topic of a number of research analyst reports. Weiss Ratings cut PubMatic from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of PubMatic in a report on Friday, August 7th. Rosenblatt Securities increased their price objective on shares of PubMatic from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of PubMatic from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $20.00 price target on shares of PubMatic in a research note on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.
Check Out Our Latest Research Report on PubMatic
Hedge Funds Weigh In On PubMatic
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUBM. Renaissance Technologies LLC lifted its position in shares of PubMatic by 26.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,540,533 shares of the company’s stock valued at $12,602,000 after acquiring an additional 321,200 shares during the period. Wellington Management Group LLP raised its stake in PubMatic by 10.1% in the third quarter. Wellington Management Group LLP now owns 1,468,503 shares of the company’s stock valued at $12,159,000 after purchasing an additional 135,070 shares in the last quarter. CenterBook Partners LP raised its position in shares of PubMatic by 53.3% in the 4th quarter. CenterBook Partners LP now owns 1,147,055 shares of the company’s stock valued at $10,174,000 after buying an additional 398,595 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of PubMatic by 9.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 929,249 shares of the company’s stock valued at $8,242,000 after buying an additional 77,566 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of PubMatic by 320.0% during the 4th quarter. Millennium Management LLC now owns 918,127 shares of the company’s stock worth $8,144,000 after acquiring an additional 699,549 shares during the period. 64.26% of the stock is owned by institutional investors and hedge funds.
About PubMatic
PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.
Founded in 2006 by Rajeev Goel and a team of ad-tech veterans, PubMatic grew from an early entrant in programmatic selling to a publicly traded company, listing on the Nasdaq (symbol: PUBM) in December 2020.
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