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

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 9,219 shares of Magnite stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $17.00, for a total value of $156,723.00. Following the completion of the transaction, the chief technology officer now owns 226,195 shares in the company, valued at $3,845,315. The trade was a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 Up 0.5 %

NASDAQ MGNI opened at $16.69 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $13.51 and its two-hundred day moving average is $13.33. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 278.17, a PEG ratio of 1.36 and a beta of 2.43. Magnite, Inc. has a 1-year low of $7.97 and a 1-year high of $18.38.

Analysts Set New Price Targets

Several brokerages recently issued reports on MGNI. Macquarie restated an “outperform” rating and set a $18.00 price target on shares of Magnite in a research note on Friday, November 8th. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. Craig Hallum restated a “buy” rating and set a $20.00 price target on shares of Magnite in a research note on Wednesday, August 21st. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company started coverage on Magnite in a research note on Monday, October 28th. They set an “equal weight” rating and a $13.00 price target on the stock. One 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, Magnite currently has an average rating of “Moderate Buy” and an average price target of $16.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. boosted its holdings in shares of Magnite by 111.8% in the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after acquiring an additional 1,188 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Magnite in the 2nd quarter worth approximately $52,000. Blue Trust Inc. acquired a new position in shares of Magnite in the 2nd quarter worth approximately $56,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Magnite by 973.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock worth $58,000 after acquiring an additional 3,972 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Magnite by 446.8% in the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after acquiring an additional 4,508 shares in the last quarter. 73.40% of the stock is owned by institutional investors and hedge funds.

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.