Magnite, Inc. (NASDAQ:MGNI) Insider Sells $201,381.51 in Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total transaction of $201,381.51. Following the completion of the transaction, the insider now directly owns 370,558 shares of the company’s stock, valued at approximately $7,088,774.54. This trade represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, February 7th, Sean Patrick Buckley sold 18,693 shares of Magnite stock. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00.

Magnite Stock Down 3.2 %

NASDAQ:MGNI opened at $17.68 on Monday. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $21.29. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 294.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.52. The stock has a fifty day simple moving average of $17.23 and a 200-day simple moving average of $15.09. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGNI. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Magnite in a research note on Friday, January 17th. Royal Bank of Canada lifted their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Finally, Scotiabank assumed coverage on shares of Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.35.

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. Larson Financial Group LLC raised its holdings in shares of 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 in the last quarter. Quarry LP raised its holdings in shares of Magnite by 446.8% in the third quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after acquiring an additional 4,508 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Magnite in the fourth quarter valued at about $87,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Magnite by 20.6% in the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock valued at $93,000 after acquiring an additional 1,000 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

About Magnite

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.