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

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 37.9% in the third quarter, HoldingsChannel.com reports. The firm owned 12,593 shares of the company’s stock after buying an additional 3,461 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PubMatic were worth $187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PUBM. Founders Capital Management raised its holdings in PubMatic by 100.0% during the 3rd quarter. Founders Capital Management now owns 2,000 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of PubMatic in the second quarter valued at about $29,000. Price T Rowe Associates Inc. MD raised its stake in shares of PubMatic by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,311 shares of the company’s stock valued at $530,000 after acquiring an additional 1,561 shares during the last quarter. Versor Investments LP boosted its holdings in shares of PubMatic by 8.2% during the second quarter. Versor Investments LP now owns 22,186 shares of the company’s stock worth $451,000 after purchasing an additional 1,677 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of PubMatic in the second quarter worth about $38,000. Institutional investors own 64.26% of the company’s stock.

Insider Activity at PubMatic

In related news, CFO Steven Pantelick sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $16.56, for a total transaction of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 22,506 shares of the company’s stock, valued at $372,699.36. This trade represents a 15.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $14.46, for a total value of $361,500.00. Following the transaction, the chief executive officer now owns 24,222 shares of the company’s stock, valued at $350,250.12. The trade was a 50.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,459 shares of company stock valued at $1,636,246 in the last three months. Company insiders own 2.90% of the company’s stock.

PubMatic Trading Up 4.4 %

Shares of PUBM stock opened at $16.81 on Monday. The company’s fifty day moving average price is $15.39 and its 200-day moving average price is $17.49. The stock has a market cap of $803.01 million, a PE ratio of 54.23 and a beta of 1.40. PubMatic, Inc. has a 12 month low of $13.18 and a 12 month high of $25.36.

Wall Street Analyst Weigh In

PUBM has been the subject of a number of recent analyst reports. Scotiabank began coverage on PubMatic in a research report on Thursday. They set a “sector perform” rating and a $17.00 price target for the company. Evercore ISI upped their target price on PubMatic from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Macquarie reaffirmed a “neutral” rating and issued a $19.00 price target on shares of PubMatic in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reduced their price objective on shares of PubMatic from $26.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.13.

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.