New York State Common Retirement Fund Sells 103,533 Shares of Magnite, Inc. (NASDAQ:MGNI)

New York State Common Retirement Fund lowered its holdings in Magnite, Inc. (NASDAQ:MGNI) by 13.4% during the 4th quarter, Holdings Channel reports. The firm owned 667,598 shares of the company’s stock after selling 103,533 shares during the period. New York State Common Retirement Fund’s holdings in Magnite were worth $10,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of Magnite by 125.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after purchasing an additional 3,659,759 shares during the period. Geode Capital Management LLC boosted its stake in Magnite by 2.2% in the third quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock valued at $41,118,000 after acquiring an additional 63,545 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new position in shares of Magnite during the 3rd quarter valued at approximately $23,917,000. Royce & Associates LP increased its stake in shares of Magnite by 5.2% during the 3rd quarter. Royce & Associates LP now owns 1,488,301 shares of the company’s stock worth $20,613,000 after purchasing an additional 73,555 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Magnite by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,340,705 shares of the company’s stock worth $18,569,000 after purchasing an additional 37,601 shares during the period. Institutional investors own 73.40% of the company’s stock.

Magnite Stock Up 0.1 %

Shares of NASDAQ:MGNI opened at $17.69 on Tuesday. The firm has a fifty day moving average price of $17.26 and a two-hundred day moving average price of $15.13. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 294.83, a PEG ratio of 1.00 and a beta of 2.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a one year low of $8.38 and a one year high of $21.29.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wolfe Research increased their price objective on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Scotiabank assumed coverage on Magnite in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price objective for the company. Royal Bank of Canada boosted their price objective on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Magnite from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. Finally, Macquarie reissued an “outperform” rating and issued a $18.00 price target on shares of Magnite in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Magnite has an average rating of “Moderate Buy” and an average price target of $18.35.

Insider Buying and Selling

In related news, insider Sean Patrick Buckley sold 18,693 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.00, for a total value of $373,860.00. Following the sale, the insider now directly owns 408,529 shares of the company’s stock, valued at $8,170,580. This trade represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David Buonasera sold 1,969 shares of Magnite stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total transaction of $32,114.39. Following the sale, the chief technology officer now owns 223,795 shares of the company’s stock, valued at approximately $3,650,096.45. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 398,541 shares of company stock worth $7,425,275. Corporate insiders own 4.30% of the company’s stock.

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.