Kumar Mukul, President of Engineering, PubMatic, Inc. (NASDAQ:PUBM), recently sold 7,000 shares of the company’s Class A common stock. The transaction, which took place on December 2, 2024, was carried out at a weighted average price of $16.5437 per share, which is approximately $115,805.
This sale was made pursuant to a pre-arranged Rule 10b5-1 trading plan that Mukul adopted on March 5, 2024. After this transaction, Mukul directly owns 44,888 shares. In addition, there was a conversion of 7,000 shares of Class B common stock into Class A common stock, a process that did not involve any cash transactions. Shares showed strong dynamics with a gain of 7% over the last week. For a deeper understanding of PubMatic’s insider trading models and 10+ additional pro tips, visit InvestingPro.
In other recent news, PubMatic, a digital ad technology company, announced the expansion of its partnership with Western Union (NYSE: ). The collaboration will leverage PubMatic’s Sell-Side Platform (SSP) to drive on-site monetization for Western Union by leveraging first-party data to grow audiences. The integration of these platforms is expected to improve efficiency and reduce fragmentation of Western Union’s advertising strategies and operations.
In its most recent financial highlights, PubMatic reported a 13% year-over-year increase in revenue in the third quarter of 2024, beating market expectations. The company’s adjusted EBITDA was $18.5 million, reflecting a healthy margin of 26%. In addition to strong earnings, PubMatic’s mobile app business grew more than 20% for the fourth consecutive quarter.
The company raised its full-year revenue guidance to $292 million to $296 million, with Q4 revenue down by $86 million to $90 million. As part of its growth strategy, PubMatic is investing in artificial intelligence technologies to improve efficiency and productivity. These recent developments underscore PubMatic’s commitment to continued growth and innovation in ad technology.
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