David Buonasera Sells 7,649 Shares of Magnite (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 7,649 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $23.46, for a total transaction of $179,445.54. Following the transaction, the chief technology officer directly owned 260,836 shares of the company’s stock, valued at $6,119,212.56. This trade represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, David Buonasera sold 1,224 shares of Magnite stock. The shares were sold at an average price of $21.00, for a total transaction of $25,704.00.
• On Wednesday, July 1st, David Buonasera sold 9,376 shares of Magnite stock. The stock was sold at an average price of $20.00, for a total value of $187,520.00.
• On Wednesday, June 17th, David Buonasera sold 1,409 shares of Magnite stock. The stock was sold at an average price of $19.00, for a total value of $26,771.00.
• On Tuesday, June 16th, David Buonasera sold 11,233 shares of Magnite stock. The shares were sold at an average price of $18.00, for a total value of $202,194.00.
• On Monday, June 15th, David Buonasera sold 1,057 shares of Magnite stock. The stock was sold at an average price of $17.00, for a total value of $17,969.00.
• On Monday, June 1st, David Buonasera sold 1,409 shares of Magnite stock. The stock was sold at an average price of $15.00, for a total value of $21,135.00.

Magnite Trading Up 1.6%

Shares of NASDAQ MGNI traded up $0.40 during midday trading on Friday, hitting $24.72. The stock had a trading volume of 4,030,807 shares, compared to its average volume of 2,586,771. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38. Magnite, Inc. has a 1-year low of $10.82 and a 1-year high of $26.65. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.05 and a beta of 2.26. The company has a fifty day moving average price of $18.69 and a 200 day moving average price of $14.94.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $192.82 million for the quarter, compared to analyst estimates of $179.15 million. Magnite had a net margin of 22.49% and a return on equity of 9.47%. Magnite’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 earnings per share. On average, analysts predict that Magnite, Inc. will post 0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. B. Riley Financial lifted their price objective on shares of Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday. Rosenblatt Securities raised their price target on shares of Magnite from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank reaffirmed an “outperform” rating and set a $27.00 price target on shares of Magnite in a research note on Thursday. Royal Bank Of Canada boosted their price objective on shares of Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Benchmark upped their price objective on shares of Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.30.

Magnite News Roundup

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

Institutional Investors Weigh In On Magnite

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citizens Financial Group Inc. RI acquired a new position in shares of Magnite in the 2nd quarter valued at approximately $1,564,000. Buckland Partners Management Co LLC acquired a new stake in shares of Magnite during the second quarter worth approximately $597,000. BlackRock Inc. acquired a new stake in shares of Magnite during the second quarter worth approximately $241,296,000. Deutsche Bank AG bought a new stake in shares of Magnite in the second quarter worth $3,132,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Magnite in the second quarter worth $5,389,000. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

Magnite Company Profile

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).