Magnite, Inc. (NASDAQ:MGNI) Insider Sean Patrick Buckley Sells 10,527 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total transaction of $201,381.51. Following the completion of the transaction, the insider now directly owns 370,558 shares of the company’s stock, valued at approximately $7,088,774.54. This trade represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Sean Patrick Buckley also recently made the following trade(s):

• On Friday, February 7th, Sean Patrick Buckley sold 18,693 shares of Magnite stock. The shares were sold at an average price of $20.00, for a total transaction of $373,860.00.

Magnite Trading Down 3.2 %

Shares of NASDAQ:MGNI traded down $0.58 on Friday, hitting $17.68. 3,039,890 shares of the company’s stock were exchanged, compared to its average volume of 2,348,664. Magnite, Inc. has a 12 month low of $8.38 and a 12 month high of $21.29. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 294.67, a price-to-earnings-growth ratio of 1.05 and a beta of 2.52. The business’s 50 day simple moving average is $17.21 and its two-hundred day simple moving average is $15.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of Magnite in a report on Friday, January 17th. Macquarie reissued an “outperform” rating and issued a $18.00 target price on shares of Magnite in a report on Friday, November 8th. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada lifted their price objective on shares of Magnite from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Magnite presently has an average rating of “Moderate Buy” and an average price target of $18.35.

Institutional Trading of Magnite

Several institutional investors and hedge funds have recently made changes to their positions in MGNI. Capital Research Global Investors bought a new stake in shares of Magnite during the fourth quarter worth $122,986,000. Wellington Management Group LLP lifted its position in shares of Magnite by 125.3% during the third quarter. Wellington Management Group LLP now owns 6,579,670 shares of the company’s stock worth $91,128,000 after purchasing an additional 3,659,759 shares during the last quarter. Nomura Asset Management Co. Ltd. bought a new stake in shares of Magnite during the third quarter worth $23,917,000. Boston Partners lifted its position in shares of Magnite by 39.1% during the fourth quarter. Boston Partners now owns 4,756,323 shares of the company’s stock worth $76,061,000 after purchasing an additional 1,336,458 shares during the last quarter. Finally, Maestria Partners LLC bought a new stake in shares of Magnite during the fourth quarter worth $15,161,000. 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.