PubMatic, Inc. (NASDAQ: PUBM) Chief Executive Officer Rajeev K. Goel completed two equity sales that together totaled 65,592 shares of Class A Common Stock, generating approximately $477,250 in proceeds.
The first disposition occurred on January 30, 2026, when Goel sold 21,592 shares at $7.3167 per share, producing $157,982 in gross proceeds. The second transaction was executed on February 2, 2026, when 44,000 shares were sold at prices between $7.145 and $7.395, with a weighted average sale price of $7.2561, yielding $319,268. That February sale was carried out by The Goel Family Trust, of which Goel and his spouse are beneficiaries, and was executed under a Rule 10b5-1 trading plan adopted on March 2, 2025.
In addition to the open-market sales, Goel carried out option exercises and a class conversion on January 29. He exercised options to take delivery of 42,203 shares of Class A Common Stock at an exercise price of $0.00, and exercised options to acquire 23,389 shares of Class B Common Stock at $1.11 per share. Following the exercise, 23,389 shares of Class B Common Stock were converted into Class A Common Stock.
Separately, PubMatic reported third-quarter results that exceeded analysts' expectations. Revenue for the period was $68 million, which the company said was 6% above Street expectations despite representing a 5% year-over-year decline. Adjusted EBITDA was $11 million with a 16% margin, a result the company noted outperformed forecasts by 16%.
On an earnings-per-share basis, PubMatic posted EPS of $0.03 for Q3 2025, beating the consensus EPS estimate of negative $0.22. Following those results, Evercore ISI raised its price target on PubMatic to $13 while maintaining an Outperform rating. Wolfe Research also lifted its price target to $12, citing momentum in connected TV and effective execution on controllable factors.
PubMatic announced two commercial leadership hires aimed at strengthening North American operations, naming Joseph Dressler and Bill McLaughlin as Senior Vice Presidents. The company described these moves as part of its positioning for growth in AI-powered advertising across multiple media channels.
This report details the insider transactions, option exercises, conversion of share classes, recent financial performance, analyst reactions, and senior commercial appointments disclosed by PubMatic and related filings.