PubMatic, Inc. (NASDAQ:PUBM) Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its stake in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 53.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,149 shares of the company's stock after acquiring an additional 40,785 shares during the quarter. Lazard Asset Management LLC owned about 0.25% of PubMatic worth $1,720,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Barclays PLC grew its holdings in PubMatic by 93.1% during the 3rd quarter. Barclays PLC now owns 129,196 shares of the company's stock valued at $1,921,000 after purchasing an additional 62,284 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of PubMatic during the third quarter valued at about $941,000. JPMorgan Chase & Co. increased its position in shares of PubMatic by 239.3% during the third quarter. JPMorgan Chase & Co. now owns 62,349 shares of the company's stock worth $927,000 after acquiring an additional 43,971 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of PubMatic during the fourth quarter worth about $4,701,000. Finally, Principal Financial Group Inc. lifted its stake in shares of PubMatic by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 25,178 shares of the company's stock worth $370,000 after acquiring an additional 2,234 shares in the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

PubMatic Price Performance

PUBM traded up $0.02 during trading hours on Thursday, hitting $11.43. 597,585 shares of the stock were exchanged, compared to its average volume of 482,426. The stock has a market cap of $554.66 million, a price-to-earnings ratio of 36.87 and a beta of 1.49. The stock has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $13.06. PubMatic, Inc. has a 12 month low of $7.46 and a 12 month high of $24.50.

PubMatic (NASDAQ:PUBM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.18). PubMatic had a return on equity of 6.12% and a net margin of 5.96%. The business had revenue of $63.83 million for the quarter, compared to analyst estimates of $62.07 million. During the same period last year, the company posted ($0.05) earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that PubMatic, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Rajeev K. Goel sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $9.14, for a total transaction of $228,500.00. Following the completion of the transaction, the chief executive officer now owns 32,304 shares in the company, valued at $295,258.56. The trade was a 43.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Pantelick sold 4,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $9.83, for a total value of $39,320.00. Following the completion of the sale, the chief financial officer now directly owns 27,026 shares in the company, valued at $265,665.58. This represents a 12.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 81,089 shares of company stock valued at $768,362 over the last quarter. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PUBM shares. Scotiabank dropped their price objective on PubMatic from $17.00 to $15.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Royal Bank of Canada dropped their price target on shares of PubMatic from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Lake Street Capital cut their price target on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, JMP Securities reissued 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.11.

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.