Magnite, Inc. (NASDAQ:MGNI - Get Free Report) CTO David Buonasera sold 5,706 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $27.25, for a total transaction of $155,488.50. Following the transaction, the chief technology officer directly owned 239,449 shares of the company's stock, valued at approximately $6,524,985.25. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
David Buonasera also recently made the following trade(s):
- On Monday, September 14th, David Buonasera sold 1,165 shares of Magnite stock. The stock was sold at an average price of $24.00, for a total value of $27,960.00.
- On Wednesday, September 2nd, David Buonasera sold 1,043 shares of Magnite stock. The shares were sold at an average price of $25.00, for a total transaction of $26,075.00.
- On Tuesday, September 1st, David Buonasera sold 5,371 shares of Magnite stock. The shares were sold at an average price of $23.42, for a total transaction of $125,788.82.
Magnite Trading Down 0.5%
NASDAQ:MGNI traded down $0.13 on Friday, reaching $27.39. The stock had a trading volume of 3,659,069 shares, compared to its average volume of 1,806,841. The company has a market cap 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 debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.03. The firm's fifty day moving average is $24.06 and its two-hundred day moving average is $17.85. Magnite, Inc. has a 12-month low of $10.82 and a 12-month high of $28.17.
Magnite (NASDAQ:MGNI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The company's quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities analysts expect that Magnite, Inc. will post 0.61 EPS for the current fiscal year.
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 Analyst Weigh In
Several analysts have commented on the stock. B. Riley Financial lifted their target price on shares of Magnite from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, September 18th. Weiss Ratings raised Magnite from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Needham & Company LLC increased their price target on Magnite from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. Susquehanna raised their price objective on Magnite from $30.00 to $35.00 and gave the stock a "positive" rating in a report on Thursday. Finally, BTIG Research reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Magnite in a research report on Wednesday, September 9th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.45.
View Our Latest Stock Report on Magnite
Institutional Investors Weigh In On Magnite
Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its stake in Magnite by 35.8% during the third quarter. Signaturefd LLC now owns 1,715 shares of the company's stock worth $43,000 after purchasing an additional 452 shares during the period. Allworth Financial LP grew its stake in shares of Magnite by 63.7% during the 2nd quarter. Allworth Financial LP now owns 1,567 shares of the company's stock valued at $30,000 after buying an additional 610 shares during the period. GAMMA Investing LLC increased its holdings in shares of Magnite by 32.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,916 shares of the company's stock worth $74,000 after buying an additional 708 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Magnite by 1.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 68,742 shares of the company's stock worth $1,736,000 after buying an additional 825 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Magnite by 59.3% during the 3rd quarter. Fifth Third Bancorp now owns 2,380 shares of the company's stock worth $60,000 after buying an additional 886 shares during the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.
Magnite Company Profile
(
Get Free Report)
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.
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