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

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total transaction of $201,381.51. Following the sale, the insider now directly owns 370,558 shares in the company, valued at approximately $7,088,774.54. The trade was 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 link.

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 transaction of $373,860.00.

Magnite Stock Performance

NASDAQ MGNI traded down $0.58 on Friday, reaching $17.68. 3,039,890 shares of the stock were exchanged, compared to its average volume of 2,348,664. Magnite, Inc. has a one year low of $8.38 and a one year high of $21.29. The firm has a market capitalization of $2.49 billion, a PE ratio of 294.67, a PEG ratio of 1.05 and a beta of 2.52. The company’s 50-day simple moving average is $17.21 and its two-hundred day simple moving average is $15.03. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

Analyst Ratings Changes

A number of analysts have recently issued reports on MGNI shares. Wolfe Research raised their price target on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Royal Bank of Canada increased their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Macquarie reiterated an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Friday, January 17th. Finally, Scotiabank started coverage on shares of Magnite in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.35.

Institutional Investors Weigh In On Magnite

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Magnite during the fourth quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in shares of Magnite by 179.2% during the fourth quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock valued at $58,000 after buying an additional 2,341 shares during the last quarter. Quarry LP raised its position in shares of Magnite by 446.8% during the third quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after buying an additional 4,508 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Magnite during the fourth quarter valued at approximately $87,000. Finally, Jones Financial Companies Lllp raised its position in shares of Magnite by 20.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock valued at $93,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

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.