Magnite (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 10,991 Shares of Company Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Buckley sold 10,991 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $27.00, for a total transaction of $296,757.00. Following the completion of the sale, the insider directly owned 282,069 shares in the company, valued at approximately $7,615,863. The trade was a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Price Performance

NASDAQ:MGNI traded down $0.13 during mid-day trading on Friday, hitting $27.39. The company’s stock had a trading volume of 3,659,069 shares, compared to its average volume of 1,806,841. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 0.71 and a beta of 2.44. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Magnite, Inc. has a fifty-two week low of $10.82 and a fifty-two week high of $28.17. The stock has a fifty day moving average of $24.06 and a 200-day moving average of $17.85.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Magnite had a return on equity of 9.33% and a net margin of 22.49%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $190.19 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts forecast that Magnite, Inc. will post 0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Magnite

A number of institutional investors and hedge funds have recently bought and sold shares of MGNI. BlackRock Inc. acquired a new stake in shares of Magnite in the second quarter valued at $241,296,000. Dimensional Fund Advisors LP lifted its position in Magnite by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock worth $47,322,000 after buying an additional 367,854 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Magnite during the 2nd quarter worth about $56,847,000. Bank of America Corp DE bought a new stake in Magnite during the 2nd quarter worth about $22,431,000. Finally, Bank of New York Mellon Corp bought a new stake in Magnite during the 2nd quarter worth about $22,059,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Key Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite beat Q3 estimates, reporting $0.33 in adjusted earnings per share and $204.2 million in revenue. Contribution ex-TAC increased 20% year over year to $201 million, led by CTV contribution ex-TAC growth of 39% to $105 million. Magnite: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company raised its 2026 contribution ex-TAC growth outlook to about 17% and said it expects 2027 adjusted EBITDA margin of at least 38.5%, signaling confidence in growth and operating leverage. Magnite raises 2026 outlook and signals 2027 margins
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, reflecting continued analyst optimism. RBC raises Magnite price target
• Neutral Sentiment: CTO David Buonasera and insider Sean Buckley sold 5,706 and 10,991 shares, respectively. Both transactions were made under pre-arranged Rule 10b5-1 plans, and each retained a substantial stake. Buonasera SEC filing Buckley SEC filing
• Negative Sentiment: Wells Fargo raised its target to $23 from $22 but kept an Equal Weight rating; the target remains below the stock’s recent trading level, suggesting a more cautious view than RBC’s. Wells Fargo analyst recommendations

Wall Street Analysts Forecast Growth

MGNI has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of Magnite from $27.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Thursday. Susquehanna boosted their price target on shares of Magnite from $30.00 to $35.00 and gave the company a “positive” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Magnite in a research note on Friday, October 2nd. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Magnite in a report on Wednesday, September 9th. Finally, Benchmark raised their price objective on shares of Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Magnite currently has an average rating of “Moderate Buy” and a consensus target price of $30.45.

About Magnite

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company’s solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.