Zions Bancorporation N.A. Lowers Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Zions Bancorporation N.A. lessened its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 61,699 shares of the company’s stock after selling 2,274 shares during the quarter. Zions Bancorporation N.A. owned approximately 0.12% of PubMatic worth $1,253,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Headlands Technologies LLC acquired a new position in PubMatic in the second quarter valued at $38,000. SG Americas Securities LLC purchased a new stake in shares of PubMatic during the 1st quarter worth about $107,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of PubMatic by 56.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,132 shares of the company’s stock worth $185,000 after purchasing an additional 3,280 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in PubMatic during the 1st quarter worth approximately $222,000. Finally, Harbour Capital Advisors LLC purchased a new position in PubMatic in the first quarter valued at approximately $266,000. Institutional investors and hedge funds own 64.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. B. Riley reduced their target price on shares of PubMatic from $31.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James cut PubMatic from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada decreased their price target on PubMatic from $26.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Macquarie decreased their price objective on shares of PubMatic from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Wolfe Research assumed coverage on PubMatic in a report on Tuesday, July 16th. They issued an “outperform” rating and a $25.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, PubMatic has an average rating of “Moderate Buy” and an average target price of $21.00.

PubMatic Stock Up 1.8 %

Shares of PUBM opened at $14.58 on Friday. The firm has a market capitalization of $722.88 million, a price-to-earnings ratio of 69.43 and a beta of 1.40. The stock’s 50-day moving average price is $17.71 and its 200 day moving average price is $20.60. PubMatic, Inc. has a 12-month low of $10.92 and a 12-month high of $25.36.

PubMatic (NASDAQ:PUBM) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. PubMatic had a net margin of 7.08% and a return on equity of 6.92%. The business had revenue of $67.27 million during the quarter, compared to the consensus estimate of $70.07 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. PubMatic’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that PubMatic, Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mukul Kumar sold 9,496 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $21.08, for a total transaction of $200,175.68. Following the sale, the insider now owns 30,958 shares in the company, valued at approximately $652,594.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Mukul Kumar sold 9,496 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $21.08, for a total value of $200,175.68. Following the completion of the transaction, the insider now directly owns 30,958 shares in the company, valued at approximately $652,594.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Pantelick sold 7,846 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $20.64, for a total value of $161,941.44. Following the completion of the transaction, the chief financial officer now directly owns 22,506 shares of the company’s stock, valued at approximately $464,523.84. The disclosure for this sale can be found here. Insiders sold a total of 128,558 shares of company stock valued at $2,382,222 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

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.