David Buonasera Sells 9,219 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 9,219 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $17.00, for a total transaction of $156,723.00. Following the sale, the chief technology officer now owns 226,195 shares in the company, valued at approximately $3,845,315. This trade represents a 3.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

David Buonasera also recently made the following trade(s):

• On Wednesday, November 27th, David Buonasera sold 431 shares of Magnite stock. The shares were sold at an average price of $16.78, for a total value of $7,232.18.
• On Monday, November 18th, David Buonasera sold 277 shares of Magnite stock. The stock was sold at an average price of $15.77, for a total value of $4,368.29.

Magnite Price Performance

Shares of NASDAQ:MGNI opened at $16.62 on Thursday. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 277.00, a PEG ratio of 1.36 and a beta of 2.43. 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 12 month low of $7.97 and a 12 month high of $18.38. The stock’s 50 day moving average price is $13.58 and its 200 day moving average price is $13.35.

Institutional Trading of Magnite

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in Magnite by 99.7% during the third quarter. Franklin Resources Inc. now owns 144,563 shares of the company’s stock valued at $2,002,000 after buying an additional 72,169 shares in the last quarter. Tidal Investments LLC lifted its holdings in Magnite by 22.2% in the 3rd quarter. Tidal Investments LLC now owns 130,580 shares of the company’s stock valued at $1,809,000 after acquiring an additional 23,688 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Magnite by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company’s stock valued at $41,118,000 after purchasing an additional 63,545 shares in the last quarter. Barclays PLC grew its stake in shares of Magnite by 352.9% in the 3rd quarter. Barclays PLC now owns 210,598 shares of the company’s stock worth $2,917,000 after purchasing an additional 164,093 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. bought a new stake in shares of Magnite in the 3rd quarter worth approximately $23,917,000. Institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

MGNI has been the topic of several analyst reports. Wells Fargo & Company assumed coverage on Magnite in a research report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Magnite in a report on Wednesday, October 2nd. Macquarie reissued an “outperform” rating and set a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. Craig Hallum restated a “buy” rating and issued a $20.00 target price on shares of Magnite in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of Magnite in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.