REDWOOD CITY, Calif.—Steven Pantelick, Chief Financial Officer of PubMatic, Inc. (NASDAQ:PUBM), reported the sale of 10,040 shares of the company’s Class A Common Stock, according to a recent SEC filing. The transaction, which took place on January 2, 2025, was executed at a weighted average price of $14.8377 per share, totaling 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 tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).
Following this transaction, Pantelick continues to hold 38,285 shares directly. In addition to the sale, Pantelick acquired a total of 25,819 shares of Class A Common Stock through the vesting of RSUs on December 31, 2024, and January 1, 2025, at no cost.
The transactions highlight the ongoing management of equity holdings by PubMatic’s executive team as they navigate stock-based compensation and tax obligations.
In other recent news, PubMatic, a digital advertising technology company, has reported a 13% year-over-year revenue increase in the third quarter of 2024, surpassing market expectations. The revenue growth was driven by significant advancements in Connected TV (CTV) and the innovative use of generative AI in political advertising. The company’s adjusted EBITDA stood at $18.5 million, reflecting a healthy 26% margin.
PubMatic has also expanded its partnership with Western Union (NYSE:), a move aimed at enhancing onsite monetization and streamlining the latter’s advertising strategies. The collaboration will utilize PubMatic’s Sell-Side Platform (SSP) to leverage Western Union’s first-party data for audience extension.
In addition to these developments, PubMatic’s mobile app business has sustained its growth trajectory, expanding over 20% for the fourth consecutive quarter. The company has also introduced an AI-powered political ad classification tool and a CTV Marketplace for inventory curation.
Looking ahead, PubMatic has raised its full-year revenue guidance to between $292 million and $296 million, with Q4 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 enhance efficiency and productivity. These are the recent developments in the company’s operations.
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