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

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 7,649 shares of the business’s stock in a transaction dated 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 $6,119,212.56. The trade was a 2.85% decrease in their position. The sale was disclosed in a 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 transaction of $25,704.00.
• On Wednesday, July 1st, David Buonasera sold 9,376 shares of Magnite stock. The shares were 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 shares were 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 shares were sold at an average price of $15.00, for a total transaction of $21,135.00.

Magnite Stock Performance

NASDAQ MGNI opened at $24.72 on Monday. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $26.65. The company has a fifty day moving average of $18.69 and a 200-day moving average of $14.94. The company has a market capitalization of $3.54 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.51 and a beta of 2.26. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.02.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Magnite had a return on equity of 9.33% and a net margin of 22.49%.The business had revenue of $192.82 million for the quarter, compared to analysts’ expectations of $179.15 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, equities research analysts predict that Magnite, Inc. will post 0.44 EPS for the current fiscal year.

Key Magnite News

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. US Bancorp DE lifted its stake in shares of Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after acquiring an additional 688 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Magnite by 106.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock worth $45,000 after acquiring an additional 1,949 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Magnite by 98.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,678 shares of the company’s stock worth $61,000 after purchasing an additional 1,824 shares during the period. Harbor Investment Advisory LLC purchased a new position in Magnite in the 2nd quarter worth approximately $62,000. Finally, Optiver Holding B.V. lifted its position in Magnite by 2,746.4% in the first quarter. Optiver Holding B.V. now owns 5,579 shares of the company’s stock valued at $66,000 after purchasing an additional 5,383 shares during the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MGNI. Susquehanna raised their price objective on Magnite from $22.00 to $30.00 and gave the company a “positive” rating in a report on Thursday. Benchmark upped their target price on Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada increased their price target on shares of Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. BTIG Research lifted 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. Finally, B. Riley Financial boosted their price objective on shares of Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Magnite currently has an average rating of “Moderate Buy” and an average target price of $28.30.

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).