Magnite, Inc. (NASDAQ:MGNI) Insider Aaron Saltz Sells 6,110 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Aaron Saltz sold 6,110 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $17.50, for a total transaction of $106,925.00. Following the sale, the insider now directly owns 297,482 shares of the company’s stock, valued at approximately $5,205,935. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Aaron Saltz also recently made the following trade(s):

• On Thursday, November 7th, Aaron Saltz sold 5,112 shares of Magnite stock. The stock was sold at an average price of $13.50, for a total transaction of $69,012.00.

Magnite Trading Down 0.4 %

Shares of MGNI opened at $16.62 on Thursday. The stock has a market capitalization of $2.34 billion, a PE ratio of 277.00, a P/E/G ratio of 1.36 and a beta of 2.43. The company’s fifty day moving average is $13.58 and its 200 day moving average is $13.35. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. Magnite, Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $18.38.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Magnite in a research note 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of Magnite in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

Institutional Trading of Magnite

A number of large investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC lifted its holdings in shares of Magnite by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after acquiring an additional 892 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its stake in shares of Magnite by 4.6% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock valued at $336,000 after purchasing an additional 1,068 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Magnite by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock worth $469,000 after purchasing an additional 1,160 shares during the period. UMB Bank n.a. increased its position in shares of Magnite by 111.8% during the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock valued at $30,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Fulton Bank N.A. raised its holdings in Magnite by 6.4% during the 3rd quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock valued at $392,000 after buying an additional 1,696 shares during the period. 73.40% of the stock is currently owned by institutional investors.

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.