Magnite (NASDAQ:MGNI) CTO David Buonasera Sells 7,649 Shares

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 7,649 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $23.46, for a total transaction of $179,445.54. Following the completion of the sale, the chief technology officer owned 260,836 shares in the company, valued at $6,119,212.56. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, David Buonasera sold 1,224 shares of Magnite stock. The stock was sold at an average price of $21.00, for a total transaction of $25,704.00.
• On Wednesday, July 1st, David Buonasera sold 9,376 shares of Magnite stock. The stock was sold at an average price of $20.00, for a total transaction of $187,520.00.
• On Wednesday, June 17th, David Buonasera sold 1,409 shares of Magnite stock. The shares were sold at an average price of $19.00, for a total value of $26,771.00.
• On Tuesday, June 16th, David Buonasera sold 11,233 shares of Magnite stock. The shares were sold at an average price of $18.00, for a total value of $202,194.00.
• On Monday, June 15th, David Buonasera sold 1,057 shares of Magnite stock. The shares were sold at an average price of $17.00, for a total value of $17,969.00.
• On Monday, June 1st, David Buonasera sold 1,409 shares of Magnite stock. The stock was sold at an average price of $15.00, for a total value of $21,135.00.

Magnite Stock Performance

Shares of NASDAQ MGNI opened at $24.72 on Friday. The stock’s fifty day simple moving average is $18.69 and its 200 day simple moving average is $14.94. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.24 and a beta of 2.26. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $26.65.

Magnite (NASDAQ:MGNI) last announced its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Magnite had a return on equity of 9.33% and a net margin of 22.49%.The business had revenue of $192.82 million during the quarter, compared to the consensus estimate of $179.15 million. During the same period in the prior year, the business posted $0.20 earnings per share. Magnite’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Magnite, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Magnite

Large investors have recently bought and sold shares of the stock. Stephens Investment Management Group LLC lifted its holdings in Magnite by 17.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company’s stock valued at $18,317,000 after purchasing an additional 164,035 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Magnite by 19.5% in the fourth quarter. Royce & Associates LP now owns 1,166,469 shares of the company’s stock valued at $18,932,000 after buying an additional 190,318 shares during the last quarter. Meros Investment Management LP raised its stake in shares of Magnite by 34.5% in the fourth quarter. Meros Investment Management LP now owns 825,595 shares of the company’s stock worth $13,399,000 after acquiring an additional 211,767 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Magnite by 85.0% during the fourth quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock worth $209,696,000 after purchasing an additional 5,937,428 shares in the last quarter. Finally, CenterBook Partners LP grew its stake in shares of Magnite by 137.1% during the fourth quarter. CenterBook Partners LP now owns 172,546 shares of the company’s stock valued at $2,800,000 after purchasing an additional 99,760 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

Key Headlines 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 Upgrades and Downgrades

Several equities analysts have weighed in on MGNI shares. Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Magnite in a report on Thursday, April 16th. Wells Fargo & Company raised their price target on shares of Magnite from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday. Evercore restated an “outperform” rating and set a $25.00 price target on shares of Magnite in a research note on Thursday. Royal Bank Of Canada boosted their price objective on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, B. Riley Financial increased their price objective on shares of Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.30.

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).