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Kumar Mukul, President of Engineering at PubMatic, Inc. (NASDAQ:PUBM), recently sold a portion of his holdings in the company. According to a recent SEC filing, Mukul sold 5,401 shares of Class A Common Stock on April 2, 2025. The shares were sold at a weighted average price of $9.31, resulting in a total transaction value of $50,268. The transaction comes as PubMatic’s stock trades near its 52-week low of $8.32, having declined over 64% in the past year.
The sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). This transaction was part of a "sell to cover" strategy, where shares are sold to meet tax liabilities arising from equity compensation.
In addition to the sale, Mukul acquired a total of 13,861 shares of Class A Common Stock through multiple transactions on April 1, 2025. These acquisitions were made at no cost as part of the vesting of RSUs. Following these transactions, Mukul now holds 60,465 shares in the company directly.
These transactions reflect Mukul’s ongoing management of his equity compensation as part of his role at PubMatic, a company specializing in digital advertising technology.
In other recent news, PubMatic Inc. reported its Q4 2024 earnings, exceeding expectations with an earnings per share (EPS) of $0.41, compared to the forecast of $0.24. However, the company’s revenue for the quarter was $85.5 million, falling short of the anticipated $88.46 million. Despite this revenue miss, PubMatic’s CTV revenue more than doubled in 2024, highlighting its strategic focus on high-growth areas. The company ended the year with $140.6 million in cash and no debt, underscoring its financial stability. Analyst firm Citizens JMP adjusted its price target for PubMatic, reducing it to $18 from $20, while maintaining a Market Outperform rating, citing the company’s strong underlying business growth of 16% year-over-year in Q4 2024, excluding certain impacts. Meanwhile, JMP analysts maintained their $61 price target, emphasizing confidence in PubMatic’s growth potential and strategic initiatives, including Supply Path Optimization and expansion into Connected TV. These developments reflect PubMatic’s robust performance and strategic direction in the digital advertising industry.
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