PubMatic, Inc. (NASDAQ:PUBM) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 73,343 shares of the company’s stock after acquiring an additional 11,644 shares during the quarter. Zions Bancorporation N.A.’s holdings in PubMatic were worth $1,091,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new stake in shares of PubMatic during the second quarter worth $29,000. Founders Capital Management lifted its position in PubMatic by 100.0% during the third quarter. Founders Capital Management now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the period. Headlands Technologies LLC acquired a new stake in PubMatic in the 2nd quarter worth about $38,000. New York State Teachers Retirement System purchased a new stake in PubMatic in the 3rd quarter valued at about $51,000. Finally, International Assets Investment Management LLC grew its holdings in PubMatic by 1,387.1% in the 3rd quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock valued at $77,000 after buying an additional 4,855 shares during the period. 64.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PubMatic

In other news, General Counsel Andrew Woods sold 2,710 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total transaction of $41,463.00. Following the completion of the sale, the general counsel now directly owns 26,739 shares in the company, valued at $409,106.70. This trade represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.25, for a total value of $381,250.00. The disclosure for this sale can be found here. Insiders sold 103,391 shares of company stock valued at $1,519,390 over the last 90 days. 2.90% of the stock is owned by corporate insiders.

PubMatic Trading Down 3.9 %

Shares of NASDAQ PUBM opened at $15.63 on Friday. The stock has a fifty day moving average price of $14.90 and a 200 day moving average price of $18.32. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36. The company has a market cap of $774.94 million, a P/E ratio of 50.42 and a beta of 1.39.

PubMatic (NASDAQ:PUBM) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $71.79 million during the quarter, compared to analyst estimates of $66.14 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, sell-side analysts forecast that PubMatic, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PUBM has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on shares of PubMatic from $26.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Macquarie reiterated a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a report on Thursday. Royal Bank of Canada lowered their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Raymond James lowered PubMatic from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Finally, B. Riley lowered their price target on PubMatic from $31.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.71.

PubMatic 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.