PubMatic CEO Rajeev Goel Has Sold $35.8M in PUBM Stock Across 362 Transactions
PubMatic CEO and co-founder Rajeev Goel has sold $35.8M in PUBM stock over 362 transactions while retaining 234,373 shares as the company's largest individual holder.
Rajeev Goel, CEO and co-founder of PubMatic (PUBM), has sold $35.8 million in company stock across 362 Form 4 filings — an unusually high frequency for a company of PubMatic's size.
The Numbers
| Metric | Value |
|---|---|
| Career Sell Value | $35.8M |
| Career Buy Value | $0 |
| Total Transactions | 362 |
| Last Transaction | 2026-02-02 |
| Shares Remaining | 234,373 |
Recent Activity
| Date | Type | Shares | Price | Est. Value |
|---|---|---|---|---|
| 2026-02-02 | Sell | 44,000 | $7.2561 | $319K |
| 2026-01-30 | Sell | 21,592 | $7.3167 | $158K |
| 2026-01-29 | Exercise | 42,203 | N/A | $0 |
In late January and early February 2026, Goel executed multiple exercise-and-sell transactions at prices around $7.26–$7.32 per share, selling 44,000 and 21,592 shares respectively. The exercise prices as low as $1.11 suggest early-stage options being monetized.
What It Means
Goel co-founded PubMatic in 2006 and holds triple roles as CEO, director, and 10% beneficial owner. With 234,373 shares still in hand, he retains meaningful upside exposure — roughly $1.7M at current prices. But the 362-transaction cadence indicates near-continuous selling, likely through a structured 10b5-1 plan.
The adtech sector has faced headwinds from cookie deprecation delays and AI-driven disruption to digital advertising. PUBM trades well below its 2021 highs, making Goel's ongoing sales at single-digit prices notable. His $1.11 exercise price on recent options suggests these are deep-in-the-money grants that generate guaranteed profit regardless of share direction.
What to Watch
- PUBM revenue trajectory amid programmatic advertising shifts
- Whether Goel's selling pace decelerates at lower share prices
- Any insider buying from other PubMatic executives or directors
- Institutional holder changes in upcoming 13F filings
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