Magnite (NASDAQ:MGNI) Director Douglas Knopper Sells 37,337 Shares

Magnite, Inc. (NASDAQ:MGNI) Director Douglas Knopper sold 37,337 shares of Magnite stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $22.72, for a total value of $848,296.64. Following the completion of the transaction, the director directly owned 88,473 shares of the company’s stock, valued at approximately $2,010,106.56. This represents a 29.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Stock Performance

Shares of Magnite stock opened at $24.72 on Friday. Magnite, Inc. has a 1 year low of $10.82 and a 1 year high of $26.65. The firm’s 50-day moving average is $18.69 and its 200 day moving average is $14.94. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.24 and a beta of 2.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02.

Magnite (NASDAQ:MGNI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $192.82 million during the quarter, compared to analyst estimates of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.33%. Magnite’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. Sell-side analysts anticipate that Magnite, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MGNI. Smartleaf Asset Management LLC increased its holdings in Magnite by 20.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,387 shares of the company’s stock valued at $82,000 after acquiring an additional 577 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Magnite by 75.8% during the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock valued at $35,000 after purchasing an additional 688 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Magnite by 45.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,428 shares of the company’s stock valued at $53,000 after purchasing an additional 755 shares during the last quarter. AYAL Capital Advisors Ltd grew its position in shares of Magnite by 0.5% during the fourth quarter. AYAL Capital Advisors Ltd now owns 200,000 shares of the company’s stock valued at $3,246,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Magnite by 2.4% during the third quarter. CANADA LIFE ASSURANCE Co now owns 44,552 shares of the company’s stock valued at $992,000 after purchasing an additional 1,047 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Magnite

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

Analyst Upgrades and Downgrades

MGNI has been the subject of several analyst reports. Benchmark raised their price target on shares of Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank Of Canada upped their price objective on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Rosenblatt Securities increased their target price on Magnite from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings raised Magnite from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company boosted their price target on Magnite from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus 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).