Magnite, Inc. (NASDAQ:MGNI) CAO Sells $33,633.60 in Stock

Magnite, Inc. (NASDAQ:MGNI) CAO Brian Gephart sold 2,156 shares of Magnite stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $15.60, for a total transaction of $33,633.60. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 %

NASDAQ:MGNI opened at $16.61 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 276.75, a P/E/G ratio of 1.33 and a beta of 2.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average of $13.33 and a 200 day moving average of $13.11. Magnite, Inc. has a 52 week low of $7.97 and a 52 week high of $17.00.

Institutional Trading of Magnite

Institutional investors have recently modified their holdings of the company. Swiss National Bank lifted its holdings in Magnite by 6.7% in the 1st quarter. Swiss National Bank now owns 244,900 shares of the company’s stock worth $2,633,000 after buying an additional 15,400 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Magnite by 30.6% during the first quarter. Russell Investments Group Ltd. now owns 140,200 shares of the company’s stock valued at $1,507,000 after acquiring an additional 32,854 shares in the last quarter. ProShare Advisors LLC lifted its stake in Magnite by 8.5% in the first quarter. ProShare Advisors LLC now owns 24,325 shares of the company’s stock worth $261,000 after acquiring an additional 1,914 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Magnite by 61.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 61,859 shares of the company’s stock valued at $665,000 after acquiring an additional 23,628 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Magnite by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 12,818,197 shares of the company’s stock valued at $137,796,000 after purchasing an additional 166,522 shares during the period. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Bank of America lifted their price target on Magnite from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Lake Street Capital began coverage on shares of Magnite in a research report on Thursday, July 25th. They set a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company initiated coverage on shares of Magnite in a research note on Monday, October 28th. They set an “equal weight” rating and a $13.00 price target on the stock. Macquarie reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Magnite in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Magnite currently has an average rating of “Moderate Buy” and an average target price of $16.96.

About Magnite

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.