Shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) saw strong trading volume on Monday . 26,001 shares traded hands during mid-day trading, a decline of 97% from the previous session's volume of 911,911 shares.The stock last traded at $16.25 and had previously closed at $16.25.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI upped their price objective on shares of PubMatic to $23.00 in a report on Monday, August 15th. Lake Street Capital decreased their price objective on shares of PubMatic from $26.00 to $24.00 in a report on Tuesday, August 9th. KeyCorp lowered shares of PubMatic to a "sector weight" rating in a report on Tuesday, August 9th. Raymond James upped their price objective on shares of PubMatic from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, August 9th. Finally, Jefferies Financial Group decreased their price objective on shares of PubMatic from $23.00 to $20.00 in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and an average price target of $32.75.

PubMatic Stock Performance

The stock's 50-day moving average price is $18.67 and its two-hundred day moving average price is $20.25. The stock has a market capitalization of $849.70 million, a PE ratio of 17.06 and a beta of 0.66.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 2,640 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $40,339.20. Following the sale, the chief financial officer now directly owns 13,552 shares of the company's stock, valued at approximately $207,074.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rajeev K. Goel sold 5,865 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $89,617.20. Following the sale, the chief executive officer now owns 5,371 shares of the company's stock, valued at approximately $82,068.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 2,640 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $15.28, for a total transaction of $40,339.20. Following the sale, the chief financial officer now directly owns 13,552 shares in the company, valued at approximately $207,074.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,823 shares of company stock valued at $4,505,945. 1.20% of the stock is owned by insiders.

Institutional Trading of PubMatic

A number of institutional investors have recently made changes to their positions in the stock. Jasper Ridge Partners L.P. boosted its holdings in shares of PubMatic by 3.6% during the 1st quarter. Jasper Ridge Partners L.P. now owns 15,032 shares of the company's stock valued at $393,000 after acquiring an additional 524 shares during the last quarter. Tyler Stone Wealth Management bought a new position in shares of PubMatic in the 4th quarter worth approximately $26,000. Verition Fund Management LLC lifted its stake in shares of PubMatic by 7.6% in the 2nd quarter. Verition Fund Management LLC now owns 11,554 shares of the company's stock worth $184,000 after purchasing an additional 819 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of PubMatic by 37.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company's stock worth $55,000 after purchasing an additional 960 shares during the period. Finally, Baldwin Brothers LLC MA bought a new position in shares of PubMatic in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 42.94% of the company's stock.

About PubMatic

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PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.

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