Michael Barrett Sells 293,968 Shares of Magnite (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CEO Michael Barrett sold 293,968 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $22.72, for a total transaction of $6,678,952.96. Following the completion of the transaction, the chief executive officer owned 403,074 shares in the company, valued at approximately $9,157,841.28. This trade represents a 42.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Stock Performance

Magnite stock traded up $0.40 during trading hours on Friday, hitting $24.72. The company had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The firm has a 50-day moving average of $18.69 and a 200 day moving average of $14.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $3.54 billion, a PE ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. Magnite, Inc. has a one year low of $10.82 and a one year high of $26.65.

Magnite (NASDAQ:MGNI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Magnite had a return on equity of 9.47% and a net margin of 22.49%.The company had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $179.15 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts expect that Magnite, Inc. will post 0.55 earnings per share for the current year.

Key Stories Impacting Magnite

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Susquehanna upped their price objective on Magnite from $22.00 to $30.00 and gave the company a “positive” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Magnite in a report on Thursday, April 16th. Benchmark boosted their target price on shares of Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Evercore restated an “outperform” rating and issued a $25.00 price target on shares of Magnite in a research note on Thursday. Finally, B. Riley Financial raised their price target on shares of Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.30.

Hedge Funds Weigh In On Magnite

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Magnite by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company’s stock valued at $854,000 after purchasing an additional 3,267 shares during the last quarter. Millennium Management LLC boosted its stake in Magnite by 113.7% in 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 in the last quarter. Jones Financial Companies Lllp boosted its stake in Magnite by 24.3% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 valued at $4,618,000 after acquiring an additional 36,097 shares during the last quarter. Finally, Intech Investment Management LLC grew 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 valued at $1,255,000 after acquiring an additional 55,971 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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).