Magnite, Inc. (NASDAQ:MGNI) CTO Sells $156,723.00 in Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 9,219 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $17.00, for a total value of $156,723.00. Following the completion of the transaction, the chief technology officer now owns 226,195 shares in the company, valued at $3,845,315. The trade was a 3.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 18th, David Buonasera sold 277 shares of Magnite stock. The stock was sold at an average price of $15.77, for a total transaction of $4,368.29.

Magnite Trading Up 0.5 %

Shares of MGNI stock traded up $0.09 during trading hours on Tuesday, hitting $16.69. The company had a trading volume of 1,537,102 shares, compared to its average volume of 1,661,095. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $2.35 billion, a PE ratio of 276.67, a price-to-earnings-growth ratio of 1.40 and a beta of 2.43. The company’s fifty day moving average is $13.44 and its 200 day moving average is $13.28. Magnite, Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $18.38.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price objective on shares of Magnite in a report on Friday, September 27th. Wells Fargo & Company assumed coverage on Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price target for the company. Benchmark reissued a “buy” rating and set a $21.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. Macquarie reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. Finally, Craig Hallum reiterated a “buy” rating and set a $20.00 price target on shares of Magnite in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Institutional Trading of Magnite

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNI. Vanguard Group Inc. grew its stake in shares of Magnite by 1.3% in the first quarter. Vanguard Group Inc. now owns 12,818,197 shares of the company’s stock valued at $137,796,000 after buying an additional 166,522 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Magnite by 125.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock valued at $91,128,000 after acquiring an additional 3,659,759 shares during the period. Geode Capital Management LLC grew its position in Magnite by 2.2% in the 3rd 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 in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in Magnite during the third quarter worth about $23,917,000. Finally, Marshall Wace LLP lifted its position in shares of Magnite by 59.0% during the second quarter. Marshall Wace LLP now owns 1,559,520 shares of the company’s stock worth $20,726,000 after purchasing an additional 578,678 shares in the last quarter. Hedge funds and other institutional investors own 73.40% 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.