Magnite, Inc. (NASDAQ:MGNI - Get Free Report) CTO David Buonasera sold 5,371 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.42, for a total value of $125,788.82. Following the sale, the chief technology officer directly owned 247,363 shares in the company, valued at $5,793,241.46. This trade represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Wednesday, September 2nd, David Buonasera sold 1,043 shares of Magnite stock. The stock was sold at an average price of $25.00, for a total value of $26,075.00.
- On Thursday, August 6th, David Buonasera sold 7,649 shares of Magnite stock. The shares were 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 transaction 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 transaction of $187,520.00.
- On Wednesday, June 17th, David Buonasera sold 1,409 shares of Magnite stock. The stock was sold at an average price of $19.00, for a total transaction of $26,771.00.
- On Tuesday, June 16th, David Buonasera sold 11,233 shares of Magnite stock. The shares were sold at an average price of $18.00, for a total transaction of $202,194.00.
- On Monday, June 15th, David Buonasera sold 1,057 shares of Magnite stock. The shares were sold at an average price of $17.00, for a total transaction of $17,969.00.
Magnite Stock Performance
MGNI stock traded down $0.25 on Thursday, hitting $24.63. The company had a trading volume of 2,921,365 shares, compared to its average volume of 2,581,751. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Magnite, Inc. has a 12-month low of $10.82 and a 12-month high of $26.19. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 1.00 and a beta of 2.30. The stock's 50-day simple moving average is $21.39 and its 200 day simple moving average is $16.28.
Magnite (NASDAQ:MGNI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $192.82 million during the quarter, compared to analyst estimates of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. As a group, equities research analysts expect that Magnite, Inc. will post 0.61 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Magnite from $20.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Rosenblatt Securities upped their price target on shares of Magnite from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. BTIG Research increased their price objective on shares of Magnite from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Scotiabank reissued an "outperform" rating and issued a $27.00 price objective on shares of Magnite in a report on Thursday, August 6th. Finally, Benchmark boosted their target price on shares of Magnite from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.80.
Read Our Latest Research Report on Magnite
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in MGNI. Vanguard Group Inc. grew its stake in shares of Magnite by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,802,630 shares of the company's stock valued at $240,247,000 after acquiring an additional 148,198 shares during the period. Capital Research Global Investors raised its stake in Magnite by 85.0% during the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company's stock worth $209,696,000 after acquiring an additional 5,937,428 shares during the period. BlackRock Inc. purchased a new position in Magnite during the second quarter valued at approximately $241,296,000. Wellington Management Group LLP lifted its holdings in Magnite by 67.7% during the fourth quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company's stock valued at $140,053,000 after purchasing an additional 3,484,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Magnite by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company's stock worth $47,322,000 after purchasing an additional 367,854 shares during the period. Institutional investors own 73.40% of the company's stock.
About Magnite
(
Get Free Report)
Magnite, Inc NASDAQ: MGNI operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.
At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).
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