Key Points
- Adam Lee Soroca sold 16,656 shares of Magnite on December 17 at an average price of $17 for a total of $283,152, cutting his stake by 4.86% to 326,114 shares (about $5.54M).
- Magnite reported quarterly EPS of $0.20 (in line with estimates) and revenue of $179.49 million, beating consensus and showing 11.6% year‑over‑year revenue growth with an 8.25% net margin.
- Analysts maintain a consensus "Moderate Buy" on MGNI with a $26.20 target (nine Buy, two Hold); the stock trades near $16.40 with a market cap of ~$2.36B and a P/E around 43.
Magnite, Inc. (NASDAQ:MGNI - Get Free Report) insider Adam Lee Soroca sold 16,656 shares of the firm's stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $17.00, for a total transaction of $283,152.00. Following the completion of the transaction, the insider owned 326,114 shares in the company, valued at approximately $5,543,938. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Adam Lee Soroca also recently made the following trade(s):
- On Tuesday, November 18th, Adam Lee Soroca sold 10,857 shares of Magnite stock. The stock was sold at an average price of $13.23, for a total transaction of $143,638.11.
Magnite Trading Down 1.1%
Shares of NASDAQ MGNI opened at $16.40 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.26 and a beta of 2.49. Magnite, Inc. has a 12-month low of $8.22 and a 12-month high of $26.65. The stock's 50 day simple moving average is $16.15 and its 200 day simple moving average is $20.13.
Magnite (NASDAQ:MGNI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Magnite had a net margin of 8.25% and a return on equity of 8.74%. The firm had revenue of $179.49 million for the quarter, compared to the consensus estimate of $163.29 million. During the same period last year, the firm posted $0.17 EPS. Magnite's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Magnite, Inc. will post 0.33 EPS for the current year.
Analyst Ratings Changes
Several analysts recently commented on MGNI shares. Rosenblatt Securities restated a "buy" rating and issued a $39.00 target price on shares of Magnite in a research report on Thursday, November 6th. Wells Fargo & Company lowered their price target on Magnite from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Friday, November 7th. Wall Street Zen downgraded shares of Magnite from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Magnite in a research report on Wednesday, October 8th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.20.
View Our Latest Research Report on Magnite
Institutional Investors Weigh In On Magnite
Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Magnite by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 13,743,521 shares of the company's stock worth $156,814,000 after purchasing an additional 138,417 shares in the last quarter. Swiss National Bank lifted its position in shares of Magnite by 9.1% during the 1st quarter. Swiss National Bank now owns 272,600 shares of the company's stock valued at $3,110,000 after acquiring an additional 22,700 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Magnite by 105.7% during the 1st quarter. HighTower Advisors LLC now owns 42,271 shares of the company's stock valued at $482,000 after acquiring an additional 21,720 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Magnite by 855.2% during the 1st quarter. American Century Companies Inc. now owns 2,961,009 shares of the company's stock worth $33,785,000 after acquiring an additional 2,651,033 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Magnite by 90.7% in the 1st quarter. AlphaQuest LLC now owns 19,077 shares of the company's stock worth $218,000 after acquiring an additional 9,073 shares during the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.
Magnite Company Profile
(
Get Free Report)
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).
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