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

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

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

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

Magnite Stock Performance

MGNI stock traded up $0.09 on Tuesday, hitting $16.69. The company’s stock had a trading volume of 1,537,102 shares, compared to its average volume of 1,661,095. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 276.67, a price-to-earnings-growth ratio of 1.40 and a beta of 2.43. The firm has a 50 day moving average of $13.44 and a two-hundred day moving average of $13.28. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. Magnite, Inc. has a 1 year low of $7.97 and a 1 year high of $18.38.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MGNI. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Magnite in a research report on Wednesday, October 2nd. Wells Fargo & Company began coverage on Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 target price on the stock. Benchmark restated a “buy” rating and issued a $21.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. Finally, Bank of America upped their price objective on Magnite from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Magnite presently has a consensus rating of “Moderate Buy” and an average target price of $16.96.

Hedge Funds Weigh In On Magnite

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Magnite by 125.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after acquiring an additional 3,659,759 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Magnite during the third quarter worth $23,917,000. Granite Investment Partners LLC purchased a new position in Magnite in the 2nd quarter valued at $11,227,000. Driehaus Capital Management LLC acquired a new position in Magnite in the 2nd quarter valued at $9,938,000. Finally, Marshall Wace LLP increased its stake in Magnite by 59.0% in the 2nd quarter. Marshall Wace LLP now owns 1,559,520 shares of the company’s stock valued at $20,726,000 after buying an additional 578,678 shares during the period. Hedge funds and other 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.