Magnite, Inc. (NASDAQ:MGNI – Get Free Report) CTO David Buonasera sold 1,165 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $24.00, for a total transaction of $27,960.00. Following the completion of the sale, the chief technology officer directly owned 245,155 shares of the company’s stock, valued at $5,883,720. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Buonasera also recently made the following trade(s):
- On Wednesday, September 2nd, David Buonasera sold 1,043 shares of Magnite stock. The shares were sold at an average price of $25.00, for a total transaction of $26,075.00.
- On Tuesday, September 1st, David Buonasera sold 5,371 shares of Magnite stock. The shares were sold at an average price of $23.42, for a total transaction of $125,788.82.
- On Thursday, August 6th, David Buonasera sold 7,649 shares of Magnite stock. The stock was sold at an average price of $23.46, for a total transaction of $179,445.54.
- On Tuesday, July 7th, David Buonasera sold 1,224 shares of Magnite stock. The shares were sold at an average price of $21.00, for a total value of $25,704.00.
- On Wednesday, July 1st, David Buonasera sold 9,376 shares of Magnite stock. The shares were sold at an average price of $20.00, for a total value of $187,520.00.
Magnite Trading Up 0.3%
NASDAQ:MGNI opened at $23.78 on Thursday. The business’s 50-day moving average is $22.23 and its two-hundred day moving average is $17.11. The firm has a market capitalization of $3.41 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 0.93 and a beta of 2.30. Magnite, Inc. has a 12 month low of $10.82 and a 12 month high of $26.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.03.
Institutional Investors Weigh In On Magnite
Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in shares of Magnite by 63.7% during the 2nd quarter. Allworth Financial LP now owns 1,567 shares of the company’s stock worth $30,000 after acquiring an additional 610 shares in the last quarter. AYAL Capital Advisors Ltd raised its position in shares of Magnite by 0.5% during the fourth quarter. AYAL Capital Advisors Ltd now owns 200,000 shares of the company’s stock worth $3,246,000 after purchasing an additional 1,000 shares during the period. Nykredit A S purchased a new stake in shares of Magnite during the second quarter valued at $25,000. EFG International AG purchased a new stake in shares of Magnite during the second quarter valued at $28,000. Finally, Blue Trust Inc. boosted its position in shares of Magnite by 5.8% in the 1st quarter. Blue Trust Inc. now owns 29,073 shares of the company’s stock valued at $345,000 after purchasing an additional 1,599 shares during the period. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on MGNI shares. Scotiabank reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Magnite in a research report on Thursday, August 6th. B. Riley Financial upped their target price on shares of Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $25.00 price target on shares of Magnite in a report on Thursday, August 6th. Wells Fargo & Company raised their price target on shares of Magnite from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Finally, Needham & Company LLC lifted their price target on shares of Magnite from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.
View Our Latest Research Report on Magnite
Magnite Company Profile
Magnite, Inc is an independent sell-side advertising technology company that operates a global platform for digital media owners and app developers. Its technology helps publishers and media companies manage, package, sell and optimize advertising inventory across connected television (CTV), online video, mobile, desktop, audio and digital out-of-home channels.
Magnite’s platform connects publishers with agencies, brands and demand-side platforms, supporting automated, data-driven programmatic advertising transactions.
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