Swiss National Bank Trims Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Swiss National Bank lowered its stake in shares of PubMatic, Inc. (NASDAQ:PUBM) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,000 shares of the company’s stock after selling 3,900 shares during the period. Swiss National Bank owned 0.16% of PubMatic worth $1,131,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of PubMatic during the 4th quarter valued at about $27,000. FMR LLC raised its stake in PubMatic by 201.6% during the third quarter. FMR LLC now owns 4,053 shares of the company’s stock worth $60,000 after purchasing an additional 2,709 shares during the period. Intech Investment Management LLC acquired a new position in PubMatic in the 3rd quarter valued at about $170,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PubMatic by 37.9% during the 3rd 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. Finally, Virtu Financial LLC acquired a new stake in shares of PubMatic during the 3rd quarter worth approximately $240,000. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

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

PubMatic Stock Down 6.7 %

Shares of PUBM opened at $9.28 on Friday. PubMatic, Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $25.36. The company has a market cap of $450.33 million, a P/E ratio of 29.94 and a beta of 1.48. The firm’s 50 day moving average price is $13.04 and its 200 day moving average price is $14.46.

PubMatic (NASDAQ:PUBM) last announced 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 net margin of 5.96% and a return on equity of 6.12%. The company had revenue of $85.50 million during the quarter, compared to analyst estimates of $88.24 million. Research analysts forecast that PubMatic, Inc. will post 0.22 earnings per share for the current 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.