Magnite, Inc. (NASDAQ:MGNI) Insider Sells $106,925.00 in Stock

Magnite, Inc. (NASDAQ:MGNI) insider Aaron Saltz sold 6,110 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $17.50, for a total value of $106,925.00. Following the completion of the sale, the insider now owns 297,482 shares in the company, valued at approximately $5,205,935. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Aaron Saltz also recently made the following trade(s):

• On Thursday, November 7th, Aaron Saltz sold 5,112 shares of Magnite stock. The shares were sold at an average price of $13.50, for a total value of $69,012.00.

Magnite Stock Down 0.4 %

NASDAQ:MGNI opened at $16.62 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $2.34 billion, a P/E ratio of 277.00, a P/E/G ratio of 1.36 and a beta of 2.43. The company’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $13.35. Magnite, Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $18.38.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGNI. Craig Hallum reiterated a “buy” rating and set a $20.00 target price on shares of Magnite in a research report on Wednesday, August 21st. Macquarie reissued an “outperform” rating and issued a $18.00 price objective on shares of Magnite in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of Magnite in a research report on Friday, September 27th. Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of Magnite in a report on Wednesday, October 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of Magnite in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.96.

Institutional Investors Weigh In On Magnite

Several institutional investors have recently bought and sold shares of MGNI. Vanguard Group Inc. lifted its holdings in shares of Magnite by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 12,818,197 shares of the company’s stock valued at $137,796,000 after purchasing an additional 166,522 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Magnite in the first quarter valued at about $108,000. Price T Rowe Associates Inc. MD boosted its holdings in Magnite by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 83,460 shares of the company’s stock worth $898,000 after acquiring an additional 4,879 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Magnite during the first quarter worth about $132,000. Finally, Tidal Investments LLC increased its holdings in shares of Magnite by 212.8% during the first quarter. Tidal Investments LLC now owns 69,388 shares of the company’s stock valued at $746,000 after acquiring an additional 47,205 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

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.