Sunday, June 26, 2022

A company insider recently sold 24,000 shares of PubMatic Inc. [PUBM]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PubMatic Inc. shares valued at $446,578 were sold by Goel Amar K. on Jun 17. At $18.61 per share, Goel Amar K. sold 24,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Kumar Mukul sold 8,300 shares, netting a total of over 149,708 in proceeds. Following the sale of shares at $18.04 each, the insider now holds 2,395 shares.

Before that, Goel Rajeev K. had sold 25,000 shares from its account. In a trade valued at $509,175, the Chief Executive Officer traded PubMatic Inc. shares for $20.37 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.0.

As published in their initiating research note from Lake Street on June 15, 2022, PubMatic Inc. [PUBM] has been a Buy and the price target has been revised to $26. This represents a 30.77% premium over Wednesday’s closing price. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late May. As of September 22, 2021, Berenberg has initiated its “Buy” rating for PUBM. Earlier on August 31, 2021, Macquarie initiated its rating. Their recommendation was “an Outperform” for PUBM stock.

Analyzing PUBM’s Price Performance

On Wednesday, PubMatic Inc. [NASDAQ: PUBM] rose 0.61% to $18.00. The stock’s lowest price that day was $17.43, but it reached a high of $18.48 in the same session. During the last five days, there has been a surge of approximately 2.16%. Over the course of the year, PubMatic Inc. shares have dropped approximately -47.14%. Shares of the company reached a 52-week high of $34.75 on 01/03/22 and a 52-week low of $17.05 on 06/14/22. A 50-day SMA is recorded $21.34, while a 200-day SMA reached $27.00. Nevertheless, trading volume fell to 0.86 million shares from 1.31 million shares the previous day.

Support And Resistance Levels for PubMatic Inc. (PUBM)

According to the 24-hour chart, there is a support level at 17.46, which, if violated, would cause prices to drop to 16.92. In the upper region, resistance lies at 18.51. The next price resistance is at 19.02. RSI (Relative Strength Index) is 41.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 76.37%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PubMatic Inc. subject to short interest?

Stocks of PubMatic Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.19 million shares to 2.57 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 2.38 million shares. A jump of 7.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.34 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.34.

Which companies own the most shares of PubMatic Inc. (PUBM)?

According to The Vanguard Group, Inc. filings, the company currently owns 2,652,359 shares, which is about 6.29% of the total PUBM shares outstanding. The investor’s shares have appreciated by 315,450 from its previous 13-F filing of 2336909.0 shares. With the completion of the buy, Fiera Capital Corp.’s stake is now worth $28,660,759. RBC Global Asset Management acquire a 14.56% interest valued at $21.44 million while Lord, Abbett & Co. LLC sold a -193,731 stake. A total of 21,941 shares of PubMatic Inc. were sold by Columbia Management Investment Ad during the quarter, and 841,153 by Manulife Investment Management. In its current portfolio, Renaissance Technologies LLC holds 776,900 shares valued at $15.49 million.

In terms of PubMatic Inc. share price expectations, FactSet research, analysts set an average price target of $29.05 in the next 12 months, up nearly 50.92% from the previous closing price of $17.89. Analysts anticipate PubMatic Inc. stock to reach $40.00 by 2022, with the lowest price target being $21.50. In spite of this, 10 analysts ranked PubMatic Inc. stock as an Overweight at the end of 2022. On August 11, 2021, Raymond James assigned a price target of “an Outperform” to the stock and upgraded coverage with a $43.

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