Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in PubMatic, Inc. (NASDAQ:PUBM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PubMatic, Inc. (NASDAQ:PUBM) by 36.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,931 shares of the company’s stock after acquiring an additional 4,507 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PubMatic were worth $155,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. purchased a new position in PubMatic in the 1st quarter valued at about $2,455,000. JPMorgan Chase & Co. lifted its stake in PubMatic by 263.0% in the 4th quarter. JPMorgan Chase & Co. now owns 226,328 shares of the company’s stock worth $3,325,000 after purchasing an additional 163,979 shares in the last quarter. Millennium Management LLC lifted its stake in PubMatic by 76.0% in the 4th quarter. Millennium Management LLC now owns 361,381 shares of the company’s stock worth $5,309,000 after purchasing an additional 156,095 shares in the last quarter. Wellington Management Group LLP lifted its stake in PubMatic by 19.4% in the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company’s stock worth $13,191,000 after purchasing an additional 145,641 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in PubMatic by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company’s stock worth $22,531,000 after purchasing an additional 84,317 shares in the last quarter. 64.26% of the stock is owned by hedge funds and other institutional investors.

PubMatic Stock Down 2.2%

NASDAQ:PUBM opened at $10.93 on Monday. The company has a fifty day simple moving average of $12.02 and a two-hundred day simple moving average of $11.62. The company has a market cap of $530.40 million, a price-to-earnings ratio of 136.64 and a beta of 1.54. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $17.74.

PubMatic (NASDAQ:PUBM) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.18). The firm had revenue of $63.83 million for the quarter, compared to analysts’ expectations of $62.07 million. PubMatic had a return on equity of 1.99% and a net margin of 1.90%. PubMatic’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) earnings per share. On average, analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PUBM. Lake Street Capital decreased their target price on shares of PubMatic from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada cut their price target on shares of PubMatic from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.17.

Insider Buying and Selling at PubMatic

In other news, General Counsel Andrew Woods sold 4,084 shares of PubMatic stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $51,295.04. Following the completion of the sale, the general counsel directly owned 44,130 shares of the company’s stock, valued at approximately $554,272.80. The trade was a 8.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Amar K. Goel sold 4,417 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $12.56, for a total transaction of $55,477.52. Following the completion of the sale, the chairman directly owned 20,516 shares of the company’s stock, valued at approximately $257,680.96. This trade represents a 17.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,294 shares of company stock worth $3,449,506. 26.42% 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.