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 the most recent SEC filing. The transaction, which occurred on January 2, 2025, was made at a weighted average price of $14.8377 per share, which is 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, at prices ranging from $14.61 to $15.09 per share. The shares were sold to cover withholding tax obligations related to the issuance and payment of restricted stock units (RSUs).
Following this transaction, Pantelick continues to hold 38,285 shares directly. In addition to the sale, Pantelick received a total of 25,819 shares of Class A Common Stock through the grant of RSUs on December 31, 2024, and January 1, 2025, for free.
The transaction highlights the continued management of equity stakes by PubMatic’s executive team as it navigates stock-based compensation and tax obligations.
In other recent news, PubMatic, a digital advertising technology company, reported that annual revenue rose 13% in the third quarter of 2024, exceeding market expectations. Revenue growth was fueled by significant advances in Connected TV (CTV) and the innovative use of generative AI in political advertising. The company’s adjusted EBITDA stood at $18.5 million, showing a healthy margin of 26%.
PubMatic is also expanding its partnership with Western Union (NYSE:), an initiative aimed at improving monetization in the area and facilitating the latest marketing strategies. The partnership will use PubMatic’s Sell-Side Platform (SSP) to leverage Western Union’s first-party data to expand audiences.
In addition to these improvements, PubMatic’s mobile apps business continued its growth trajectory, growing more than 20% for the fourth quarter in a row. The company is also launching an AI-powered political ad segmentation tool and CTV Marketplace for customization.
Looking ahead, PubMatic raised its full-year revenue guidance to between $292 million and $296 million, while Q4 revenue is expected to fall between $86 and $90 million. The company remains optimistic about the upcoming holiday season and growth in 2025, with investments in AI technology set to improve efficiency and productivity. These are the latest developments in the company’s operations.
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