Zions Bancorporation N.A. Purchases 13,995 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Zions Bancorporation N.A. boosted its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 19.1% in the 4th quarter, HoldingsChannel reports. The firm owned 87,338 shares of the company’s stock after buying an additional 13,995 shares during the period. Zions Bancorporation N.A.’s holdings in PubMatic were worth $1,283,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of PubMatic during the fourth quarter worth approximately $27,000. FMR LLC grew its position in PubMatic by 201.6% during the 3rd quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after acquiring an additional 2,709 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in PubMatic in the fourth quarter worth $106,000. Intech Investment Management LLC bought a new stake in shares of PubMatic during the third quarter worth $170,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PubMatic by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,593 shares of the company’s stock valued at $187,000 after buying an additional 3,461 shares in the last quarter. 64.26% of the stock is owned by institutional investors.

PubMatic Stock Performance

PUBM opened at $10.45 on Wednesday. The company has a fifty day moving average price of $13.32 and a two-hundred day moving average price of $14.55. The firm has a market capitalization of $507.11 million, a PE ratio of 33.71 and a beta of 1.48. PubMatic, Inc. has a 52 week low of $9.07 and a 52 week high of $25.36.

PubMatic (NASDAQ:PUBM) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $88.24 million. Equities analysts forecast that PubMatic, Inc. will post 0.22 EPS for the current year.

Insider Activity at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 24,891 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $15.14, for a total value of $376,849.74. Following the completion of the sale, the chief executive officer now directly owns 5,896 shares in the company, valued at $89,265.44. This represents a 80.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Amar K. Goel sold 4,087 shares of PubMatic stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $14.84, for a total value of $60,651.08. Following the transaction, the chairman now owns 14,044 shares in the company, 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 have sold 94,811 shares of company stock worth $1,438,381 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PUBM. JMP Securities reiterated a “market outperform” rating and set a $20.00 price target on shares of PubMatic in a research report on Monday, January 27th. Scotiabank reduced their target price on shares of PubMatic from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th. Lake Street Capital lowered their price target on shares of PubMatic from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Royal Bank of Canada reduced their price objective on PubMatic from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PubMatic has an average rating of “Moderate Buy” and a consensus price target of $19.89.

PubMatic Company 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.