PubMatic, Inc. (NASDAQ:PUBM) has reported a recent sale of shares by its President of Engineering, Kumar Mukul. The transaction, which occurred on May 16, 2024, involved the sale of 7,000 shares of Class A Common Stock at a weighted average price of $23.02, with individual sale prices ranging from $22.67 to $23.48. The total value of the shares sold amounts to approximately $161,159.
The sale was conducted under a Rule 10b5-1 trading plan, which was adopted by Mukul on March 3, 2023. Rule 10b5-1 trading plans allow company insiders to set up a predetermined plan to sell company stocks, which is executed automatically according to the plan's parameters. This approach helps to avoid concerns about insider trading, as the sales are planned when the insider is not in possession of material non-public information.
Following the sale, Mukul's holdings in Class A Common Stock decreased to 30,958 shares. It's important to note that this transaction does not reflect any conversion of Class B Common Stock, as such conversions are automatically done upon transfer post-IPO, except for certain permitted transfers.
Investors and followers of PubMatic, Inc. can obtain full information regarding the specific prices of shares sold upon request. The details of these transactions are filed with the Securities and Exchange Commission and are available for public viewing.
This disclosure provides transparency into the financial activities of key executives at PubMatic, offering investors insight into insider transactions within the company.
InvestingPro Insights
PubMatic, Inc. (NASDAQ:PUBM) has been a subject of interest for investors, especially in light of recent insider transactions. To provide further context, here are some insights derived from InvestingPro metrics and tips that may be valuable for investors considering this company.
InvestingPro Data highlights include a Market Cap of approximately $1.18 billion USD and a high P/E Ratio of 98.55, which adjusts slightly lower to 95.66 when considering the last twelve months as of Q1 2024. Despite a PEG Ratio of -3.08 suggesting potential overvaluation relative to growth expectations, the company has shown a robust Revenue Growth rate of 20.38% for Q1 2024. PubMatic's Gross Profit Margin remains strong at 63.78% for the same period, indicating a healthy ability to convert revenue into gross profit.
In terms of performance, PubMatic has experienced a significant 3 Month Price Total Return of 46.2%, and a 6 Month Price Total Return of 48.27%, as of mid-April 2024. This suggests a strong recent uptrend in the stock price, which is further supported by the fact that the current price is at 93.68% of its 52-week high.
InvestingPro Tips for PubMatic point to a company that is actively managing its capital structure, as evidenced by aggressive share buybacks. Additionally, the company holds more cash than debt on its balance sheet, which is a positive sign of financial stability. Furthermore, analysts are optimistic about the company's future, expecting net income to grow this year. It is also worth noting that PubMatic does not pay a dividend, which may be a consideration for income-focused investors.
For investors seeking a deeper dive into PubMatic's financials and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/PUBM. Currently, there are over ten more tips listed, providing a comprehensive analysis of the company's financial health and market position.
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