Zions Bancorporation N.A. Has $1.28 Million Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Zions Bancorporation N.A. raised its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,338 shares of the company’s stock after purchasing an additional 13,995 shares during the period. Zions Bancorporation N.A. owned 0.18% of PubMatic worth $1,283,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in PubMatic during the fourth quarter valued at approximately $27,000. FMR LLC raised its holdings in shares of PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock valued at $60,000 after purchasing an additional 2,709 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of PubMatic in the 4th quarter valued at $106,000. Intech Investment Management LLC bought a new stake in PubMatic in the third quarter worth $170,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in PubMatic by 37.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock worth $187,000 after buying an additional 3,461 shares during the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Rajeev K. Goel sold 17,793 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $264,048.12. Following the sale, the chief executive officer now owns 30,896 shares of the company’s stock, valued at $458,496.64. The trade was a 36.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Amar K. Goel sold 4,087 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $14.84, for a total transaction of $60,651.08. Following the completion of the transaction, the chairman now directly owns 14,044 shares of the company’s stock, valued at $208,412.96. This trade represents a 22.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,811 shares of company stock valued at $1,438,381 over the last ninety days. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on PUBM shares. Royal Bank of Canada reduced their price target on PubMatic from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Lake Street Capital decreased their target price on PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Scotiabank lowered their price target on PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th. Finally, JMP Securities restated a “market outperform” rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Trading Up 5.6 %

Shares of PUBM stock opened at $10.45 on Wednesday. The firm has a market capitalization of $507.11 million, a P/E ratio of 33.71 and a beta of 1.48. PubMatic, Inc. has a 1 year low of $9.07 and a 1 year high of $25.36. The firm’s fifty day simple moving average is $13.32 and its 200 day simple moving average is $14.55.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.11). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $88.24 million. Equities research analysts anticipate that PubMatic, Inc. will post 0.22 EPS for the current fiscal year.

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.