Three PubMatic insiders — the CFO, General Counsel, and President of Engineering — sold a combined $1.17M in open-market shares over a week, with the GC alone accounting for $688K. The CFO's two sales ($724K total) and the GC's single large sale are material relative to the $787M market cap (~0.15%), but the cluster is dominated by non-cash derivative exercises by the CAO and President of Engineering that resulted in net-zero cash proceeds. The selling is concentrated in senior executives but lacks the concentrated urgency of a single-day C-suite dump, and the dollar value is modest at ~0.15% of market cap, suggesting routine diversification rather than a coordinated bearish signal. Historical calibration on PUBM shows a 63% win rate at T+20, but the cluster is mixed with non-cash exercises, so the signal is weak. The cross-filing actuarial verdicts show amplifiers for cluster-insider-trades + cluster-press-context, but no press context is present here, so no override applies. Overall, this is a modest sell cluster that warrants monitoring but not alarm.
Price Chart
Executive Summary
Three PubMatic insiders — the CFO, General Counsel, and President of Engineering — sold a combined $1.17M in open-market shares over a week, with the GC alone accounting for $688K. The CFO's two sales ($724K total) and the GC's single large sale are material relative to the $787M market cap (~0.15%), but the cluster is dominated by non-cash derivative exercises by the CAO and President of Engineering that resulted in net-zero cash proceeds. The selling is concentrated in senior executives but lacks the concentrated urgency of a single-day C-suite dump, and the dollar value is modest at ~0.15% of market cap, suggesting routine diversification rather than a coordinated bearish signal. Historical calibration on PUBM shows a 63% win rate at T+20, but the cluster is mixed with non-cash exercises, so the signal is weak. The cross-filing actuarial verdicts show amplifiers for cluster-insider-trades + cluster-press-context, but no press context is present here, so no override applies. Overall, this is a modest sell cluster that warrants monitoring but not alarm.
Financial Impact
Not specified
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-1787094089416 |
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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