Lazard Asset Management LLC Has $1.72 Million Stock Holdings in PubMatic, Inc. (NASDAQ:PUBM)

Lazard Asset Management LLC raised its position in PubMatic, Inc. (NASDAQ:PUBM - Free Report) by 53.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,149 shares of the company's stock after acquiring an additional 40,785 shares during the quarter. Lazard Asset Management LLC owned approximately 0.25% of PubMatic worth $1,720,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of PubMatic by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,533,718 shares of the company's stock worth $22,531,000 after buying an additional 84,317 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of PubMatic by 19.4% during the 4th quarter. Wellington Management Group LLP now owns 897,970 shares of the company's stock worth $13,191,000 after buying an additional 145,641 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of PubMatic by 1.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 683,064 shares of the company's stock worth $10,034,000 after buying an additional 6,600 shares during the last quarter. Nixon Capital LLC lifted its stake in shares of PubMatic by 1.4% during the 4th quarter. Nixon Capital LLC now owns 578,259 shares of the company's stock worth $8,518,000 after buying an additional 7,966 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of PubMatic by 2.9% during the 4th quarter. Northern Trust Corp now owns 383,246 shares of the company's stock worth $5,630,000 after buying an additional 10,749 shares during the last quarter. Institutional investors and hedge funds own 64.26% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PUBM shares. Lake Street Capital dropped their price objective on shares of PubMatic from $21.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of PubMatic from $17.00 to $15.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Royal Bank of Canada dropped their price objective 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. Finally, JMP Securities reiterated a "market outperform" rating and issued a $20.00 price objective on shares of PubMatic in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PubMatic has an average rating of "Moderate Buy" and a consensus price target of $19.11.

PubMatic Trading Down 1.2%

PUBM stock traded down $0.14 during mid-day trading on Friday, hitting $11.29. The stock had a trading volume of 491,862 shares, compared to its average volume of 481,845. PubMatic, Inc. has a 52 week low of $7.46 and a 52 week high of $24.50. The firm has a market capitalization of $547.87 million, a P/E ratio of 36.42 and a beta of 1.49. The firm has a fifty day simple moving average of $9.78 and a 200 day simple moving average of $13.00.

PubMatic (NASDAQ:PUBM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.18). PubMatic had a net margin of 5.96% and a return on equity of 6.12%. The firm had revenue of $63.83 million during the quarter, compared to the consensus estimate of $62.07 million. During the same period in the prior year, the business earned ($0.05) earnings per share. PubMatic's quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that PubMatic, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling at PubMatic

In related news, General Counsel Andrew Woods sold 4,111 shares of PubMatic stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $9.31, for a total transaction of $38,273.41. Following the sale, the general counsel now directly owns 39,509 shares of the company's stock, valued at approximately $367,828.79. The trade was a 9.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rajeev K. Goel sold 25,000 shares of PubMatic stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $9.84, for a total transaction of $246,000.00. Following the sale, the chief executive officer now directly owns 8,297 shares in the company, valued at $81,642.48. This trade represents a 75.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,089 shares of company stock valued at $768,362 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

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.