Magnite, Inc. (NASDAQ:MGNI) Insider Sells $201,381.51 in Stock

Magnite, Inc. (NASDAQ:MGNI) insider Sean Patrick Buckley sold 10,527 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $19.13, for a total transaction of $201,381.51. Following the sale, the insider now directly owns 370,558 shares in the company, valued at $7,088,774.54. This trade represents a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 MGNI opened at $17.68 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. Magnite, Inc. has a 1 year low of $8.38 and a 1 year high of $21.29. The company has a 50 day simple moving average of $17.23 and a two-hundred day simple moving average of $15.09. The firm has a market cap of $2.49 billion, a P/E ratio of 294.67, a price-to-earnings-growth ratio of 1.00 and a beta of 2.52.

Institutional Investors Weigh In On Magnite

Institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in Magnite during the 4th quarter valued at approximately $25,000. Larson Financial Group LLC grew its holdings in Magnite by 179.2% during the 4th quarter. Larson Financial Group LLC now owns 3,647 shares of the company’s stock valued at $58,000 after buying an additional 2,341 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Magnite during the 4th quarter valued at approximately $87,000. Quarry LP grew its holdings in Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock valued at $76,000 after buying an additional 4,508 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Magnite by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 5,853 shares of the company’s stock valued at $93,000 after buying an additional 1,000 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGNI has been the topic of several recent analyst reports. Scotiabank initiated coverage on shares of Magnite in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wolfe Research upped their target price on shares of Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company upped their target price on shares of Magnite from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Macquarie restated an “outperform” rating and set a $18.00 target price on shares of Magnite in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.35.

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.