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

Zions Bancorporation N.A. grew its stake in PubMatic, Inc. (NASDAQ:PUBM) by 18.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,343 shares of the company’s stock after buying an additional 11,644 shares during the period. Zions Bancorporation N.A. owned 0.15% of PubMatic worth $1,091,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in PubMatic in the second quarter valued at $29,000. Founders Capital Management lifted its holdings in shares of PubMatic by 100.0% in the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of PubMatic in the 2nd quarter valued at about $38,000. New York State Teachers Retirement System purchased a new position in PubMatic during the 3rd quarter worth approximately $51,000. Finally, International Assets Investment Management LLC increased its position in PubMatic by 1,387.1% during the third quarter. International Assets Investment Management LLC now owns 5,205 shares of the company’s stock worth $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.

PubMatic Trading Down 3.9 %

Shares of PUBM stock opened at $15.63 on Friday. The stock has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $18.32. The company has a market cap of $774.94 million, a price-to-earnings ratio of 50.42 and a beta of 1.39. PubMatic, Inc. has a 12-month low of $13.18 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $71.79 million during the quarter, compared to analysts’ expectations of $66.14 million. PubMatic had a return on equity of 6.12% and a net margin of 5.96%. On average, equities analysts forecast that PubMatic, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew Woods sold 2,710 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $15.30, for a total value of $41,463.00. Following the completion of the transaction, the general counsel now 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 filing with the SEC, which is available through the SEC website. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction on 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. Over the last 90 days, insiders have sold 103,391 shares of company stock valued at $1,519,390. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

About PubMatic

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.