Insider Selling: Magnite, Inc. (NASDAQ:MGNI) CAO Sells 2,156 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 2,156 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $33,633.60. Following the completion of the transaction, the chief accounting officer now owns 112,795 shares of the company’s stock, valued at approximately $1,759,602. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Brian Gephart also recently made the following trade(s):

• On Monday, November 11th, Brian Gephart sold 2,156 shares of Magnite stock. The stock was sold at an average price of $15.00, for a total transaction of $32,340.00.

Magnite Trading Up 3.6 %

Magnite stock opened at $16.61 on Friday. Magnite, Inc. has a one year low of $7.97 and a one year high of $17.00. The business’s fifty day moving average is $13.33 and its 200 day moving average is $13.11. The stock has a market capitalization of $2.34 billion, a PE ratio of 276.75, a price-to-earnings-growth ratio of 1.33 and a beta of 2.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11.

Analysts Set New Price Targets

A number of brokerages have recently commented on MGNI. Wells Fargo & Company assumed coverage on Magnite in a research report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price target on the stock. Benchmark reiterated a “buy” rating and set a $21.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. Lake Street Capital started coverage on Magnite in a research note on Thursday, July 25th. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Finally, Macquarie reiterated an “outperform” rating and issued a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Institutional Trading of Magnite

Institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its holdings in shares of Magnite by 111.8% during the second quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock valued at $30,000 after purchasing an additional 1,188 shares during the last quarter. Asset Dedication LLC bought a new stake in Magnite in the 2nd quarter worth approximately $52,000. Blue Trust Inc. bought a new stake in Magnite in the 2nd quarter worth approximately $56,000. Benjamin F. Edwards & Company Inc. raised its stake in Magnite by 973.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock valued at $58,000 after buying an additional 3,972 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after buying an additional 4,508 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.