Lazard Asset Management LLC Acquires 2,662 Shares of PubMatic, Inc. (NASDAQ:PUBM)

Lazard Asset Management LLC increased its holdings in shares of PubMatic, Inc. (NASDAQ:PUBM – Get Rating) by 236.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,790 shares of the company’s stock after purchasing an additional 2,662 shares during the period. Lazard Asset Management LLC’s holdings in PubMatic were worth $63,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in PubMatic during the third quarter worth about $32,000. Ensign Peak Advisors Inc boosted its holdings in shares of PubMatic by 37.9% during the second quarter. Ensign Peak Advisors Inc now owns 3,490 shares of the company’s stock worth $55,000 after acquiring an additional 960 shares during the period. New York State Teachers Retirement System bought a new stake in shares of PubMatic during the third quarter worth approximately $60,000. Motco bought a new stake in shares of PubMatic during the third quarter worth approximately $66,000. Finally, Quantbot Technologies LP bought a new stake in shares of PubMatic during the second quarter worth approximately $68,000. Institutional investors own 41.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PUBM. JMP Securities reduced their price objective on PubMatic from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Wednesday, March 1st. Lake Street Capital dropped their price target on shares of PubMatic from $24.00 to $19.00 in a research report on Wednesday, November 9th. Oppenheimer dropped their price target on shares of PubMatic from $23.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Raymond James dropped their price target on shares of PubMatic from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, March 1st. Finally, Jefferies Financial Group dropped their price target on shares of PubMatic from $16.00 to $15.00 in a research report on Thursday, December 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.14.

Insider Buying and Selling at PubMatic

In other PubMatic news, CEO Rajeev K. Goel sold 4,824 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $62,519.04. Following the completion of the transaction, the chief executive officer now directly owns 17,449 shares in the company, valued at $226,139.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PubMatic news, CEO Rajeev K. Goel sold 4,824 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $12.96, for a total transaction of $62,519.04. Following the sale, the chief executive officer now owns 17,449 shares of the company’s stock, valued at $226,139.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven Pantelick sold 3,353 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $12.96, for a total transaction of $43,454.88. Following the sale, the chief financial officer now directly owns 27,766 shares in the company, valued at approximately $359,847.36. The disclosure for this sale can be found here. Insiders sold a total of 57,628 shares of company stock worth $778,622 over the last three months. Corporate insiders own 1.20% of the company’s stock.

PubMatic Price Performance

Shares of PUBM opened at $13.51 on Tuesday. PubMatic, Inc. has a one year low of $12.19 and a one year high of $28.30. The company has a market cap of $710.22 million, a P/E ratio of 27.02 and a beta of 0.92. The firm has a 50 day simple moving average of $14.73 and a two-hundred day simple moving average of $16.00.

PubMatic Company Profile

(Get Rating)

PubMatic, Inc provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles.