Pubmatic chief accounting officer sells $14,018 in stock

In a recent transaction, PubMatic, Inc. (NASDAQ:PUBM) Chief Accounting Officer Lisa Gimbel sold a portion of her holdings in the company. On February 18, Gimbel sold 911 shares of PubMatic’s Class A Common Stock, generating a total of $14,018. The shares were sold at a weighted average price of $15.3884, within a range of $15.17 to $15.53. According to InvestingPro data, the stock has experienced an 8.69% decline over the past week, with analysts setting price targets between $16 and $24.

Earlier, on February 15, Gimbel acquired a total of 2,168 shares of Class A Common Stock through the exercise of restricted stock units (RSUs) at no cost. These transactions left her with 4,791 shares owned directly following the sale. InvestingPro analysis suggests PubMatic is currently undervalued, with a solid financial health score of 2.59 and strong balance sheet metrics.

The sale was made to cover tax withholding obligations related to the vesting and settlement of RSUs. With the company’s earnings report due on February 27, investors can access comprehensive analysis and 12+ additional ProTips through InvestingPro’s detailed research reports.

In other recent news, PubMatic reported a strong third-quarter performance in 2024, with a 13% increase in revenue year-over-year, surpassing market expectations. This growth was fueled by advancements in Connected TV and the use of generative AI in political advertising. PubMatic’s omnichannel video revenue reached an all-time high, accounting for 36% of total revenue, while CTV monetized impressions more than doubled from the previous year. The company also raised its full-year revenue guidance to between $292 million and $296 million, with fourth-quarter revenue expected to range from $86 million to $90 million. Additionally, PubMatic expanded its partnership with Western Union (NYSE:WU) to enhance onsite monetization through its Sell-Side Platform. This collaboration aims to streamline Western Union’s advertising strategies and create customized advertising opportunities for a diverse audience. The partnership aligns with the projected growth in U.S. ad spending on financial media networks, which is expected to rise significantly by 2026. These developments highlight PubMatic’s strategic focus on leveraging technology to improve advertising outcomes.

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