PubMatic, Inc. Insider Mukul Kumar Sells Shares

On January 2nd, 2025, Mukul Kumar, an insider at PubMatic, Inc. (NASDAQ:PUBM), sold 4,480 shares of the company's stock. The shares were sold at an average price of $14.84, resulting in a total sale value of $66,483.20. After this transaction, Kumar holds 52,005 shares of PubMatic, which are currently valued at $771,754.20. This sale marks a 7.93% reduction in his stake in the company. The details of this transaction were made public through a filing with the SEC.

In addition to this recent sale, Mukul Kumar made a couple of other trades in December. On December 16th, he sold 7,000 shares at an average price of $16.52, amounting to $115,640.00. Earlier, on December 2nd, he also sold 7,000 shares for an average price of $16.54, bringing in $115,780.00.

Overview of PubMatic's Stock Performance

As of January 3rd, PubMatic's stock opened at $15.33. The company's stock has seen a fifty-two week low of $13.18 and a high of $25.36. Currently, PubMatic has a market capitalization of $732.27 million, a price-to-earnings (P/E) ratio of 49.45, and a beta of 1.40. The stock's fifty-day moving average is $15.69, while the two-hundred-day moving average is $16.63.

Institutional Investors Adjusting Holdings

There has been significant activity among institutional investors regarding PubMatic's stock recently. Renaissance Technologies LLC increased its ownership by 28.8% in the second quarter, acquiring an additional 265,700 shares, now totaling 1,188,700 shares worth $24,142,000. Geode Capital Management LLC also raised its stake by 0.8% in the third quarter, owning 961,155 shares valued at $14,295,000 after purchasing 7,225 shares. Wellington Management Group LLP showed a notable increase of 222.8% in its holdings, now holding 752,329 shares worth $11,187,000 after acquiring an additional 519,275 shares. Other funds like Jacobs Levy Equity Management Inc. and Charles Schwab Investment Management Inc. have also adjusted their stakes in PubMatic, with the former increasing its holdings by 17.4% and the latter acting on a 122.5% increase. Together, institutional and hedge fund investors own approximately 64.26% of PubMatic's stock.

Recent Analyst Ratings Changes

Brokerage firms have recently issued several reports regarding PubMatic. Scotiabank initiated coverage on December 5th, assigning a "sector perform" rating with a price target of $17.00. Evercore ISI increased its price target from $20.00 to $22.00 and recommended an “outperform” rating on November 13th. Additionally, the Royal Bank of Canada adjusted its price target from $21.00 to $19.00, maintaining an “outperform” rating. Macquarie has retained a “neutral” rating with a target price of $19.00 as well. According to MarketBeat.com, PubMatic currently has an average rating of “Moderate Buy” based on evaluations from various analysts, with an average target price set at $20.63.

About PubMatic

PubMatic, Inc. is a technology company that specializes in the provision of a cloud infrastructure platform enabling real-time programmatic advertising transactions. Their platform serves digital content creators, advertisers, agencies, trading desks, and demand-side platforms globally. PubMatic’s sell-side platform (SSP) facilitates the buying and selling of digital advertising inventory for publishers and buyers alike.

PubMatic, Insider, Shares