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Andrew Woods, General Counsel and Secretary of PubMatic, Inc. (NASDAQ:PUBM), recently executed a series of stock transactions involving the company’s Class A Common Stock. On April 2 and April 3, Woods sold a total of 6,902 shares, generating approximately $61,802. The sales were executed at an average price of $9.31 and $8.43 per share, respectively. These transactions come as PubMatic’s stock has declined significantly, down about 64% over the past year, with the current price near its 52-week low of $8.32.
These transactions were part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell company stock, typically to avoid concerns about insider trading. The sales on April 2 were also intended to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). According to InvestingPro analysis, PubMatic appears undervalued at current levels, with strong fundamentals including more cash than debt on its balance sheet and liquid assets exceeding short-term obligations.
Following these transactions, Woods holds 36,718 shares of PubMatic’s Class A Common Stock. For deeper insights into PubMatic’s valuation and 17 additional exclusive ProTips, visit InvestingPro.
In other recent news, PubMatic Inc. reported its Q4 2024 earnings, showcasing an earnings per share (EPS) of $0.41, significantly surpassing the forecast of $0.24. However, the company’s revenue for the quarter was slightly below expectations, coming in at $85.5 million compared to the anticipated $88.46 million. Despite this revenue miss, PubMatic’s financial stability is highlighted by its $140.6 million in cash and zero debt. Analysts from JMP maintained a Market Outperform rating for PubMatic, with a revised price target of $18, down from $20, citing the company’s robust underlying business growth despite challenges from a major Demand-Side Platform (DSP) partner’s auction model shift. Citizens JMP analysts also upheld a Market Outperform rating, acknowledging the company’s strategic shift towards high-growth advertising formats like Connected TV (CTV), which now represents 20% of its revenue. PubMatic’s Supply Path Optimization (SPO) initiatives accounted for 53% of its activity in 2024, marking an 8-point increase year-over-year. The company is focused on accelerating growth, targeting over 15% business growth in 2025, with plans to expand its presence in high-engagement channels such as CTV and mobile apps.
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