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Amar K. Goel, Chairman and Chief Innovation Officer at PubMatic, Inc. (NASDAQ:PUBM), sold 8,020 shares of Class A Common Stock on September 2, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The advertising technology company, currently valued at $384 million, has seen its stock decline over 43% year-to-date, according to InvestingPro data.
The shares were sold at a weighted average price of $8.4502, resulting in a total transaction value of $67,770. The prices for the sales ranged from $8.34 to $8.58. Following the transaction, Goel directly owns 12,496 shares of PubMatic. While the stock appears undervalued according to InvestingPro Fair Value analysis, it’s worth noting that five analysts have recently revised their earnings expectations downward for the upcoming period.
The sale was executed under a Rule 10b5-1 trading plan adopted on June 3, 2025. Despite recent insider selling, InvestingPro data shows management has been actively buying back shares, and the company maintains strong liquidity with cash exceeding debt levels.
In other recent news, PubMatic Inc reported second-quarter revenue of $71 million and EBITDA of $14 million, surpassing analysts’ expectations by 5% and 30%, respectively. Despite these positive results, the company issued lower-than-expected guidance for the third quarter, projecting revenue between $61-$66 million and EBITDA of $7-10 million, below Street estimates. Following this guidance, several analysts adjusted their outlooks. Evercore ISI reduced its price target for PubMatic to $12.00 from $16.00, maintaining an Outperform rating. RBC Capital also lowered its price target to $11.00 from $14.00, citing a solid quarter despite the guidance. Scotiabank cut its price target to $10.00 from $15.00, attributing the change to weak third-quarter guidance. Meanwhile, Lake Street Capital Markets maintained its Hold rating with a price target of $9.50. Rosenblatt Securities initiated coverage of PubMatic with a Buy rating and a $17.00 price target, highlighting the company’s position as a leading supply-side platform. These developments reflect the mixed sentiment among analysts regarding PubMatic’s financial outlook.
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