The CEO-led selling cluster at ~0.6% of market cap is a material signal, especially given the absence of any insider buying. Traders should monitor for upcoming earnings (likely Q2 2026) or material corporate developments that may have prompted these sales. The historical calibration shows a 63% win rate on prior PUBM reports, but this is the first clear bearish cluster — consider short-term hedging or reducing exposure until the next catalyst clarifies.
Price Chart
Executive Summary
Three top insiders at PubMatic — CEO Rajeev Goel, CFO Steven Pantelick, and General Counsel Andrew Woods — sold a combined $4.82M in open-market shares over a 7-day window, with the CEO alone accounting for $3.75M. This cluster represents ~0.6% of market cap, exceeding the 0.5% materiality threshold, and is amplified by the CEO's participation and the absence of any offsetting insider buying. The sales are not clearly tied to a 10b5-1 plan pattern, raising the likelihood of informed selling ahead of upcoming events such as Q2 earnings or strategic developments.
Key Financial Metrics
Key Facts
- CEO Rajeev Goel sold 211,300 shares for $3.75M on 2026-08-07
- CFO Steven Pantelick sold 41,919 shares total for ~$724K on 2026-08-12 and 2026-08-13
- General Counsel Andrew Woods sold 38,331 shares for $688K on 2026-08-10
- Total cluster value of $4.82M represents ~0.6% of PubMatic's $801M market cap
- No insider purchases were reported in the cluster window
- Recent 30-day insider activity shows $5.8M in total sales, consistent with this selling pattern
Financial Impact
Insiders sold $4.82M in open-market shares, ~0.6% of market cap
Risk Factors
- Insider sales may be pre-planned under a 10b5-1 plan not disclosed in this filing
- Stock could rally on positive earnings or guidance, invalidating the bearish signal
- The cluster represents only 0.6% of market cap, which is notable but not overwhelming
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PUBM-1786774798006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 8d ago | ANALYST-UPGRADE | $18.55 $18.73 | ▲ +0.97% | ▲ +1.56% | $19.18 (+3.40%) |
Sep 4, 2026 28d ago | Insider Cluster | $16.29 $16.78 | ▲ +3.01% | ▲ +4.13% | $19.18 (+17.74%) |
Aug 21, 2026 6w ago | Insider Cluster | $16.36 $16.63 | ▼ −1.65% | ▼ −1.18% | $19.18 (−17.24%) |
Aug 18, 2026 6w ago | Insider Cluster | $16.78 $16.25 | ▼ −3.16% | ▼ −2.77% | $19.18 (+14.30%) |
Aug 14, 2026 7w ago | Insider Cluster | $17.59 $16.41 | ▲ +6.71% | ▲ +5.34% | $19.18 (−9.04%) |
Aug 10, 2026 7w ago | Insider Cluster | $17.65 $17.36 | ▼ −1.64% | ▼ −1.24% | $19.18 (+8.67%) |
Jul 27, 2026 9w ago | Insider Cluster | $13.03 $12.96 | ▲ +0.54% | ▲ +2.81% | $19.18 (−47.20%) |
Jul 17, 2026 11w ago | Insider Cluster | $12.73 $12.30 | ▼ −3.38% | ▼ −2.69% | $19.18 (+50.67%) |
Jul 6, 2026 12w ago | Insider Cluster | $13.32 $13.69 | ▲ +2.78% | ▲ +2.23% | $19.18 (+43.99%) |
Jun 11, 2026 16w ago | Institutional Cluster | $11.27 $11.30 | ▲ +0.27% | ▼ −0.17% | $19.18 (+70.19%) |
US Market Status
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