Magnite (NASDAQ:MGNI) CTO Sells $179,445.54 in Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 7,649 shares of Magnite stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $23.46, for a total value of $179,445.54. Following the transaction, the chief technology officer directly owned 260,836 shares of the company’s stock, valued at approximately $6,119,212.56. This represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 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 value 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 transaction of $26,771.00.
• On Tuesday, June 16th, David Buonasera sold 11,233 shares of Magnite stock. The stock was sold at an average price of $18.00, for a total transaction of $202,194.00.
• On Monday, June 15th, David Buonasera sold 1,057 shares of Magnite stock. The stock was sold at an average price of $17.00, for a total transaction 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 Price Performance

MGNI stock traded up $0.40 on Friday, reaching $24.72. The company had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The company’s fifty day moving average is $18.69 and its 200 day moving average is $14.94. The company has a market cap of $3.54 billion, a P/E ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.02. Magnite, Inc. has a 1 year low of $10.82 and a 1 year high of $26.65.

Magnite (NASDAQ:MGNI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Magnite had a return on equity of 9.47% and a net margin of 22.49%.The company had revenue of $192.82 million during the quarter, compared to the consensus estimate of $179.15 million. During the same quarter last year, the business posted $0.20 earnings per share. Magnite’s revenue was up 11.3% compared to the same quarter last year. On average, research analysts forecast that Magnite, Inc. will post 0.55 earnings per share for the current year.

Magnite News Summary

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MGNI. Weiss Ratings raised shares of Magnite from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. BTIG Research raised their price target on shares of Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday. Rosenblatt Securities lifted their price target on shares of Magnite from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark lifted their price target on shares of Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Scotiabank reissued an “outperform” rating and issued a $27.00 price objective on shares of Magnite in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.30.

Institutional Investors Weigh In On Magnite

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Magnite by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,802,630 shares of the company’s stock valued at $240,247,000 after purchasing an additional 148,198 shares during the last quarter. Capital Research Global Investors boosted its stake in Magnite by 85.0% in the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock worth $209,696,000 after buying an additional 5,937,428 shares during the last quarter. BlackRock Inc. acquired a new stake in Magnite in the 2nd quarter worth about $241,296,000. Wellington Management Group LLP grew its holdings in Magnite by 67.7% in the 4th quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company’s stock valued at $140,053,000 after buying an additional 3,484,689 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Magnite by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock valued at $47,322,000 after buying an additional 367,854 shares during the period. Hedge funds and other institutional investors own 73.40% of the company’s stock.

About Magnite

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).