Insider Selling: Magnite (NASDAQ:MGNI) Insider Sells 67,179 Shares

Key Points

• Magnite insider Sean Patrick Buckley sold 67,179 shares for approximately $1.65 million at an average price of $24.49 under a pre-arranged Rule 10b5-1 plan, reducing his position by 17.54%.
• Magnite reported better-than-expected quarterly results, with EPS of $0.26 versus the $0.24 consensus and revenue of $192.82 million, up 11.3% year over year. The company also raised its full-year 2026 outlook.
• Analysts remain broadly positive, with nine Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $28.30; institutional investors own 73.4% of the stock.

Magnite, Inc. (NASDAQ:MGNI - Get Free Report) insider Sean Patrick Buckley sold 67,179 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $24.49, for a total value of $1,645,213.71. Following the transaction, the insider owned 315,805 shares of the company's stock, valued at approximately $7,734,064.45. This represents a 17.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sean Patrick Buckley also recently made the following trade(s):

• On Tuesday, July 7th, Sean Patrick Buckley sold 19,233 shares of Magnite stock. The stock was sold at an average price of $21.03, for a total value of $404,469.99.
• On Wednesday, June 17th, Sean Patrick Buckley sold 19,233 shares of Magnite stock. The shares were sold at an average price of $19.00, for a total transaction of $365,427.00.

Magnite Trading Up 1.6%

Magnite stock traded up $0.40 during mid-day trading on Friday, reaching $24.72. 4,030,807 shares of the company traded hands, compared to its average volume of 2,586,771. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.02 and a quick ratio of 1.02. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $26.65. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.05 and a beta of 2.26. The firm's 50 day moving average price is $18.69 and its 200 day moving average price is $14.94.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $192.82 million during the quarter, compared to analysts' expectations of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.47%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. On average, analysts anticipate that Magnite, Inc. will post 0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Rosenblatt Securities lifted their price objective on Magnite from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Magnite in a research report on Thursday, April 16th. Weiss Ratings upgraded Magnite from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Wells Fargo & Company upped their price target on Magnite from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Evercore reiterated an "outperform" rating and issued a $25.00 price objective on shares of Magnite in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Magnite has an average rating of "Moderate Buy" and a consensus price target of $28.30.

Hedge Funds Weigh In On Magnite

A number of institutional investors and hedge funds have recently made changes to their positions in MGNI. Stephens Investment Management Group LLC increased its position in shares of Magnite by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company's stock valued at $18,317,000 after acquiring an additional 164,035 shares in the last quarter. Royce & Associates LP lifted its position in Magnite by 19.5% in the 4th quarter. Royce & Associates LP now owns 1,166,469 shares of the company's stock valued at $18,932,000 after acquiring an additional 190,318 shares in the last quarter. Meros Investment Management LP boosted its stake in Magnite by 34.5% during the 4th quarter. Meros Investment Management LP now owns 825,595 shares of the company's stock valued at $13,399,000 after purchasing an additional 211,767 shares during the last quarter. Capital Research Global Investors boosted 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 valued at $209,696,000 after purchasing an additional 5,937,428 shares during the last quarter. Finally, CenterBook Partners LP increased its holdings in shares of Magnite by 137.1% in the 4th quarter. CenterBook Partners LP now owns 172,546 shares of the company's stock worth $2,800,000 after purchasing an additional 99,760 shares in the last quarter. Institutional investors own 73.40% of the company's stock.

Magnite News Roundup

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

Magnite Company Profile

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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