Pubmatic president Mukul sells $115,539 in stock

Kumar Mukul, President of Engineering at PubMatic, Inc. (NASDAQ:PUBM), recently sold shares of the company’s Class A common stock. According to a Form 4 filing with the Securities and Exchange Commission, Mukul sold 7,000 shares on February 10, 2025, at a weighted average price of $16.5057, with the total transaction amounting to approximately $115,539. The sale comes as PubMatic’s stock has shown strong momentum, with a ~13% return year-to-date and current trading price of $16.66. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which Mukul adopted on March 5, 2024. Following this transaction, Mukul holds 52,005 shares of PubMatic.

Additionally, the filing detailed a conversion of 7,000 shares of Class B common stock to Class A common stock, which was not associated with any monetary transaction. This conversion was in line with company policies that automatically convert Class B shares to Class A shares upon transfer after the company’s initial public offering.

In other recent news, PubMatic has reported a robust performance in the third quarter of 2024, with a 13% year-over-year increase in revenue, surpassing market expectations. This growth was primarily driven by significant advancements in Connected TV (CTV) and the innovative use of generative AI in political advertising. The company’s financial health was further highlighted by a 25% increase in omnichannel video revenue and a doubling of CTV monetized impressions from the previous year. Adjusted EBITDA stood at $18.5 million, reflecting a 26% margin, and omnichannel video revenue reached an all-time high, constituting 36% of total revenue.

In addition to these financial results, PubMatic has also expanded its partnership with Western Union (NYSE:WU) to include commerce media business. This partnership aims to leverage PubMatic’s Sell-Side Platform (SSP) to enhance onsite monetization for Western Union, using its first-party data for audience extension through Convert. The integration of these platforms is expected to increase efficiency and reduce fragmentation in Western Union’s monetization approach. This collaboration is part of a broader trend to leverage first-party data and technology to improve advertising outcomes and reach target audiences more effectively.

These developments come as part of a series of recent strategic moves by PubMatic, including its raised full-year revenue guidance to between $292 million and $296 million. The company also expects its Q4 revenue to be between $86 million and $90 million. With investments in AI technologies set to enhance efficiency and productivity, the company remains cautiously optimistic about the upcoming holiday season and growth in 2025.

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