Magnite (NASDAQ:MGNI) CTO Sells $155,488.50 in Stock

Key Points

• Magnite CTO David Buonasera sold 5,706 shares for $155,488.50 at an average price of $27.25, under a pre-arranged Rule 10b5-1 trading plan.
• After the sale, Buonasera retained 239,449 shares, valued at approximately $6.52 million; the transaction reduced his stake by 2.33%.
• Magnite reported quarterly revenue of $204.2 million and EPS of $0.33, beating analyst estimates; revenue increased 22.4% year over year.

Magnite, Inc. (NASDAQ:MGNI - Get Free Report) CTO David Buonasera sold 5,706 shares of the firm's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $27.25, for a total transaction of $155,488.50. Following the sale, the chief technology officer owned 239,449 shares of the company's stock, valued at approximately $6,524,985.25. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, David Buonasera sold 1,165 shares of Magnite stock. The shares were sold at an average price of $24.00, for a total transaction of $27,960.00.
• 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.

Magnite Trading Down 0.5%

Shares of NASDAQ MGNI traded down $0.13 during midday trading on Friday, reaching $27.39. 3,658,860 shares of the stock were exchanged, compared to its average volume of 2,520,394. The company has a 50 day simple moving average of $23.98 and a 200 day simple moving average of $17.79. The stock has a market capitalization of $3.93 billion, a P/E ratio of 23.02, a PEG ratio of 0.75 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.02. Magnite, Inc. has a twelve month low of $10.82 and a twelve month high of $28.17.

Magnite (NASDAQ:MGNI - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Magnite had a net margin of 23.58% and a return on equity of 11.04%. The firm had revenue of $204.20 million for the quarter, compared to analyst estimates of $190.19 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business's revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities analysts expect that Magnite, Inc. will post 0.61 earnings per share for the current year.

Institutional Trading of Magnite

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Magnite during the second quarter worth $241,296,000. Canada Pension Plan Investment Board purchased a new position in shares of Magnite during the second quarter worth $56,847,000. Bank of America Corp DE purchased a new position in shares of Magnite during the second quarter worth $22,431,000. Bank of New York Mellon Corp acquired a new stake in shares of Magnite in the second quarter valued at $22,059,000. Finally, Meros Investment Management LP acquired a new stake in shares of Magnite in the second quarter valued at $18,815,538. Institutional investors and hedge funds own 73.40% of the company's stock.

More Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 results beat expectations. Revenue was $204.2 million, while adjusted EPS was $0.33, ahead of consensus. Contribution ex-TAC—a key measure of the company’s underlying advertising business—rose 20% year over year to $200.6 million. Magnite Q3 results
• Positive Sentiment: CTV was a standout growth engine. CTV contribution ex-TAC climbed 39% to $105.4 million, beating the company’s guidance range. DV+ contribution also exceeded guidance, growing 5%. Coverage cited CTV strength and a political-advertising surge as factors behind the quarter. Three takeaways for long-term investors
• Positive Sentiment: Management raised its outlook. Magnite lifted its 2026 contribution ex-TAC growth forecast to about 17% and expects adjusted EBITDA growth of about 30%, a margin of about 38.5% and free-cash-flow growth above 60%. For 2027, it forecast more than 15% top-line growth excluding political advertising and an adjusted EBITDA margin of at least 38.5%. Magnite raises outlook
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, signaling continued analyst confidence. RBC price-target update
• Neutral Sentiment: Wells Fargo also raised its target, from $22 to $23, but kept an Equal Weight rating; its target remains below the recently cited share price, suggesting a more cautious view of valuation. Wells Fargo recommendations

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC lifted their target price on Magnite from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Royal Bank Of Canada increased their price target on Magnite from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday. Benchmark raised their price objective on Magnite from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Craig Hallum reissued a "buy" rating and set a $32.00 price objective on shares of Magnite in a research report on Thursday, September 17th. Finally, BTIG Research restated a "buy" rating and issued a $27.00 price objective on shares of Magnite in a report on Wednesday, September 9th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Magnite presently has a consensus rating of "Moderate Buy" and an average target price of $30.45.

Magnite Company Profile

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company's solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.

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