Magnite (NASDAQ:MGNI) Insider Adam Lee Soroca Sells 10,857 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Adam Lee Soroca sold 10,857 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $13.23, for a total value of $143,638.11. Following the completion of the transaction, the insider owned 326,114 shares of the company’s stock, valued at $4,314,488.22. This trade represents a 3.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Adam Lee Soroca also recently made the following trade(s):

• On Tuesday, September 2nd, Adam Lee Soroca sold 24,986 shares of Magnite stock. The shares were sold at an average price of $24.69, for a total value of $616,904.34.

Magnite Trading Up 0.3%

Shares of NASDAQ:MGNI opened at $13.40 on Wednesday. Magnite, Inc. has a 52-week low of $8.22 and a 52-week high of $26.65. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 1.42 and a beta of 3.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $19.31 and a 200-day moving average price of $20.23.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. Magnite had a return on equity of 8.07% and a net margin of 6.30%.The firm had revenue of $179.49 million for the quarter, compared to analyst estimates of $163.29 million. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Magnite’s revenue for the quarter was up 11.6% on a year-over-year basis. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts predict that Magnite, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Magnite from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a research note on Wednesday, October 8th. Benchmark upped their target price on shares of Magnite from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen lowered Magnite from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Needham & Company LLC upped their price objective on shares of Magnite from $18.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Magnite presently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Institutional Investors Weigh In On Magnite

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Magnite by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 14,654,432 shares of the company’s stock worth $319,174,000 after acquiring an additional 1,092,147 shares in the last quarter. Boston Partners grew its holdings in shares of Magnite by 5.7% during the second quarter. Boston Partners now owns 5,574,604 shares of the company’s stock worth $133,037,000 after buying an additional 298,248 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Magnite by 63.1% during the second quarter. American Century Companies Inc. now owns 4,829,197 shares of the company’s stock worth $116,480,000 after purchasing an additional 1,868,188 shares during the period. Granahan Investment Management LLC increased its position in Magnite by 6.3% during the 3rd quarter. Granahan Investment Management LLC now owns 3,873,179 shares of the company’s stock worth $84,358,000 after purchasing an additional 230,393 shares during the period. Finally, Nuveen LLC purchased a new position in Magnite in the first quarter worth $41,036,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

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.