Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera Sells 1,969 Shares

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 1,969 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $16.31, for a total value of $32,114.39. Following the sale, the chief technology officer now directly owns 223,795 shares of the company’s stock, valued at approximately $3,650,096.45. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

David Buonasera also recently made the following trade(s):

• On Wednesday, November 27th, David Buonasera sold 431 shares of Magnite stock. The stock was sold at an average price of $16.78, for a total value of $7,232.18.
• On Friday, November 22nd, David Buonasera sold 9,219 shares of Magnite stock. The stock was sold at an average price of $17.00, for a total transaction of $156,723.00.
• On Monday, November 18th, David Buonasera sold 277 shares of Magnite stock. The shares were sold at an average price of $15.77, for a total transaction of $4,368.29.

Magnite Stock Up 0.2 %

Shares of NASDAQ MGNI traded up $0.03 during trading hours on Friday, hitting $16.47. The stock had a trading volume of 1,523,619 shares, compared to its average volume of 1,649,837. The firm’s 50-day moving average price is $14.48 and its two-hundred day moving average price is $13.80. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $18.38. The company has a market capitalization of $2.32 billion, a P/E ratio of 275.00, a P/E/G ratio of 1.38 and a beta of 2.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11.

Analyst Ratings Changes

MGNI has been the subject of a number of recent analyst reports. Macquarie reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Needham & Company LLC raised their target price on Magnite from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price objective on shares of Magnite in a research note on Friday, September 27th. Finally, Scotiabank started coverage on Magnite in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.73.

Institutional Trading of Magnite

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Magnite by 125.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock valued at $91,128,000 after purchasing an additional 3,659,759 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Magnite by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock worth $41,118,000 after purchasing an additional 63,545 shares in the last quarter. Nomura Asset Management Co. Ltd. acquired a new position in Magnite during the third quarter worth $23,917,000. Marshall Wace LLP raised its holdings in Magnite by 59.0% during the second quarter. Marshall Wace LLP now owns 1,559,520 shares of the company’s stock valued at $20,726,000 after buying an additional 578,678 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Magnite by 5.2% in the third quarter. Royce & Associates LP now owns 1,488,301 shares of the company’s stock worth $20,613,000 after buying an additional 73,555 shares during the last quarter. 73.40% of the stock is owned by institutional investors.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.