REDWOOD CITY, Calif.—Steven Pantelick, Chief Financial Officer of PubMatic, Inc. (NASDAQ:PUBM), reported selling 10,040 shares of the company’s Class A common stock, according to its most recent filing with the SEC. The transaction, which occurred on January 2, 2025, was executed at a weighted average price of $14.8377 per share, for a total of approximately $148,970. According to InvestingPro data, PubMatic, currently valued at $733 million, shows strong financial health with more cash than debt on its balance sheet.
The sale was part of a block trade involving multiple security holders, with prices ranging from $14.61 to $15.09 per share. The shares were sold to cover withholding tax obligations related to the vesting and settlement of restricted stock units (RSUs).
Following this transaction, Pantelick continues to directly hold 38,285 shares. In addition to the sale, Pantelick acquired an aggregate of 25,819 shares of Class A common stock through the vesting of RSUs on December 31, 2024 and January 1, 2025, without expense.
The transactions highlight ongoing ownership management by PubMatic’s executive team while managing stock-based compensation and tax liabilities.
In other recent news, PubMatic, a digital advertising technology company, reported a 13% year-over-year increase in revenue in the third quarter of 2024, beating market expectations. Revenue growth was driven by significant advances in connected television (CTV) and the innovative use of generative artificial intelligence in political advertising. The company’s adjusted EBITDA was $18.5 million, reflecting a healthy margin of 26%.
PubMatic has also expanded its partnership with Western Union (NYSE: ), a move aimed at improving on-site monetization and streamlining the latter’s advertising strategies. The collaboration will use PubMatic’s Selling Platform (SSP) to leverage Western Union’s first-party data to expand its audience.
Along with these developments, PubMatic’s mobile app business maintained its growth trajectory, expanding more than 20% for the fourth consecutive quarter. The company also introduced an AI-powered political ad classification tool and CTV Marketplace for inventory management.
Looking ahead, PubMatic raised its full-year revenue guidance to between $292 million and $296 million, with fourth-quarter revenue expected to fall between $86 million and $90 million. The company remains cautiously optimistic about the upcoming holiday season and growth in 2025, with investments in AI technologies set to boost efficiency and productivity. These are recent developments in the company’s operations.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
