Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera Sells 1,969 Shares

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 1,969 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.31, for a total transaction of $32,114.39. Following the completion of the transaction, the chief technology officer now owns 223,795 shares in the company, valued at $3,650,096.45. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

David Buonasera also recently made the following trade(s):

• On Wednesday, November 27th, David Buonasera sold 431 shares of Magnite stock. The shares were sold at an average price of $16.78, for a total value of $7,232.18.
• On Friday, November 22nd, David Buonasera sold 9,219 shares of Magnite stock. The shares were sold at an average price of $17.00, for a total value of $156,723.00.
• On Monday, November 18th, David Buonasera sold 277 shares of Magnite stock. The shares were sold at an average price of $15.77, for a total transaction of $4,368.29.

Magnite Price Performance

Shares of Magnite stock traded up $0.03 on Friday, hitting $16.47. The company had a trading volume of 1,523,619 shares, compared to its average volume of 1,649,837. Magnite, Inc. has a 52 week low of $8.38 and a 52 week high of $18.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $2.32 billion, a PE ratio of 275.00, a PEG ratio of 1.38 and a beta of 2.50. The business has a 50-day simple moving average of $14.48 and a 200-day simple moving average of $13.80.

Wall Street Analysts Forecast Growth

MGNI has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $21.00 price objective on shares of Magnite in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of Magnite in a research note on Friday, September 27th. Craig Hallum restated a “buy” rating and set a $20.00 price objective on shares of Magnite in a research note on Wednesday, August 21st. Macquarie reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Magnite in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their price target on shares of Magnite from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.73.

Hedge Funds Weigh In On Magnite

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNI. 272 Capital LP acquired a new stake in shares of Magnite in the third quarter valued at $598,000. Franklin Resources Inc. raised its position in Magnite by 99.7% in the third quarter. Franklin Resources Inc. now owns 144,563 shares of the company’s stock worth $2,002,000 after acquiring an additional 72,169 shares in the last quarter. Tidal Investments LLC lifted its holdings in Magnite by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 130,580 shares of the company’s stock valued at $1,809,000 after acquiring an additional 23,688 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Magnite by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock valued at $41,118,000 after purchasing an additional 63,545 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Magnite by 352.9% during the 3rd quarter. Barclays PLC now owns 210,598 shares of the company’s stock valued at $2,917,000 after purchasing an additional 164,093 shares in the last quarter. 73.40% of the stock is owned by institutional investors.

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.