Magnite (NASDAQ:MGNI) Director Douglas Knopper Sells 37,337 Shares of Stock

Key Points

• Director Douglas Knopper sold 37,337 Magnite shares at an average price of $22.72, generating $848,296.64. The Rule 10b5-1 transaction reduced his ownership by 29.68% to 88,473 shares.
• 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 2026 growth and adjusted EBITDA-margin outlook.
• Shares rose 1.6% to $24.72, while several analysts raised their price targets; the stock has a “Moderate Buy” consensus rating and an average target of $28.30. However, Wells Fargo maintained an equal-weight rating with a $22 target, citing valuation concerns.

Magnite, Inc. (NASDAQ:MGNI - Get Free Report) Director Douglas Knopper sold 37,337 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $22.72, for a total value of $848,296.64. Following the transaction, the director owned 88,473 shares of the company's stock, valued at $2,010,106.56. The trade was a 29.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Stock Up 1.6%

Magnite stock traded up $0.40 during mid-day trading on Friday, reaching $24.72. The stock had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. The company has a 50-day moving average price of $18.69 and a two-hundred day moving average price of $14.94. Magnite, Inc. has a one year low of $10.82 and a one year high of $26.65. 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 (NASDAQ:MGNI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $192.82 million for the quarter, compared to the consensus estimate of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.47%. Magnite's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. On average, analysts expect that Magnite, Inc. will post 0.55 EPS for the current fiscal year.

Key Magnite News

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

Institutional Investors Weigh In On Magnite

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Magnite by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company's stock worth $854,000 after buying an additional 3,267 shares during the last quarter. Millennium Management LLC increased its holdings in Magnite by 113.7% during the first quarter. Millennium Management LLC now owns 434,479 shares of the company's stock valued at $4,957,000 after buying an additional 231,213 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Magnite by 24.3% during the first quarter. Jones Financial Companies Lllp now owns 7,276 shares of the company's stock valued at $83,000 after buying an additional 1,423 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Magnite by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 404,717 shares of the company's stock worth $4,618,000 after acquiring an additional 36,097 shares during the period. Finally, Intech Investment Management LLC raised its position in Magnite by 103.6% in the first quarter. Intech Investment Management LLC now owns 109,992 shares of the company's stock worth $1,255,000 after acquiring an additional 55,971 shares during the period. Hedge funds and other institutional investors own 73.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. BTIG Research lifted their price target on shares of Magnite from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Thursday. Rosenblatt Securities raised their target price on shares of Magnite from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday. Benchmark lifted their target price on shares of Magnite from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday. B. Riley Financial boosted their target price on shares of Magnite from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Weiss Ratings raised Magnite from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.30.

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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