Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera Sells 8,742 Shares

Magnite, Inc. (NASDAQ:MGNI - Get Free Report) CTO David Buonasera sold 8,742 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $16.00, for a total transaction of $139,872.00. Following the sale, the chief technology officer now owns 258,702 shares of the company's stock, valued at approximately $4,139,232. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, May 23rd, David Buonasera sold 3,653 shares of Magnite stock. The shares were sold at an average price of $15.03, for a total transaction of $54,904.59.

Magnite Stock Performance

NASDAQ:MGNI traded up $0.32 during mid-day trading on Monday, reaching $16.68. The company's stock had a trading volume of 2,153,439 shares, compared to its average volume of 2,125,625. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $21.29. The stock has a market cap of $2.35 billion, a P/E ratio of 278.00, a PEG ratio of 1.00 and a beta of 2.73. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average price is $12.78 and its two-hundred day moving average price is $15.10.

Magnite (NASDAQ:MGNI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. Magnite had a return on equity of 4.64% and a net margin of 2.62%. The business had revenue of $145.85 million during the quarter, compared to the consensus estimate of $142.18 million. During the same period in the prior year, the company posted $0.05 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Magnite, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Trading of Magnite

Several institutional investors and hedge funds have recently made changes to their positions in MGNI. SBI Securities Co. Ltd. bought a new stake in shares of Magnite in the fourth quarter valued at about $25,000. MCF Advisors LLC grew its stake in shares of Magnite by 2,100.0% during the first quarter. MCF Advisors LLC now owns 2,200 shares of the company's stock worth $25,000 after acquiring an additional 2,100 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Magnite by 74.9% in the first quarter. Smartleaf Asset Management LLC now owns 2,810 shares of the company's stock valued at $33,000 after buying an additional 1,203 shares during the last quarter. AllSquare Wealth Management LLC boosted its position in Magnite by 76.8% in the first quarter. AllSquare Wealth Management LLC now owns 3,580 shares of the company's stock valued at $41,000 after buying an additional 1,555 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Magnite by 179.2% in the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company's stock valued at $58,000 after acquiring an additional 2,341 shares during the period. 73.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MGNI. Lake Street Capital reduced their target price on shares of Magnite from $21.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Susquehanna upped their price objective on shares of Magnite from $16.00 to $22.00 and gave the stock a "positive" rating in a report on Thursday, February 27th. Needham & Company LLC increased their target price on shares of Magnite from $14.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 12th. Benchmark lowered their target price on shares of Magnite from $25.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $18.00 price objective on shares of Magnite in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.23.

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.