Magnite, Inc. (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 10,527 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $19.13, for a total value of $201,381.51. Following the transaction, the insider now directly owns 370,558 shares in the company, valued at approximately $7,088,774.54. This trade represents a 2.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sean Patrick Buckley also recently made the following trade(s):

• On Friday, February 7th, Sean Patrick Buckley sold 18,693 shares of Magnite stock. The shares were sold at an average price of $20.00, for a total value of $373,860.00.

Magnite Stock Down 3.2 %

NASDAQ MGNI opened at $17.68 on Friday. The business has a fifty day moving average price of $17.23 and a two-hundred day moving average price of $15.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $21.29. The stock has a market capitalization of $2.49 billion, a PE ratio of 294.67, a PEG ratio of 1.00 and a beta of 2.52.

Institutional Investors Weigh In On Magnite

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Magnite by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 13,605,104 shares of the company’s stock worth $216,593,000 after purchasing an additional 257,032 shares during the last quarter. Capital Research Global Investors bought a new stake in Magnite during the fourth quarter worth $122,986,000. Wellington Management Group LLP lifted its stake in Magnite by 6.8% during the fourth quarter. Wellington Management Group LLP now owns 7,030,011 shares of the company’s stock worth $111,918,000 after purchasing an additional 450,341 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Magnite by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,524,643 shares of the company’s stock worth $87,957,000 after purchasing an additional 170,532 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Magnite by 39.1% in the 4th quarter. Boston Partners now owns 4,756,323 shares of the company’s stock valued at $76,061,000 after acquiring an additional 1,336,458 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MGNI. Wells Fargo & Company upped their target price on Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Royal Bank of Canada upped their target price on Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Magnite in a research report on Friday, January 17th. Wolfe Research upped their target price on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. 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 research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Magnite currently has a consensus rating of “Moderate Buy” and an average price target of $18.35.

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.