Magnite, Inc. (NASDAQ:MGNI) CFO Sells $226,865.00 in Stock

Magnite, Inc. (NASDAQ:MGNI) CFO David Day sold 13,345 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $17.00, for a total transaction of $226,865.00. Following the sale, the chief financial officer now owns 374,014 shares in the company, valued at $6,358,238. This represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 16th, David Day sold 11,644 shares of Magnite stock. The shares were sold at an average price of $16.44, for a total value of $191,427.36.

Magnite Trading Down 1.0 %

Shares of NASDAQ MGNI opened at $16.46 on Friday. Magnite, Inc. has a twelve month low of $8.38 and a twelve month high of $18.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $16.11 and a two-hundred day simple moving average of $14.26. The firm has a market cap of $2.32 billion, a PE ratio of 274.33, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51.

Institutional Trading of Magnite

Several institutional investors and hedge funds have recently made changes to their positions in the company. Asset Dedication LLC purchased a new position in Magnite during the 2nd quarter valued at about $52,000. Benjamin F. Edwards & Company Inc. increased 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 valued at $58,000 after acquiring an additional 3,972 shares during the period. Quarry LP raised its position 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. DekaBank Deutsche Girozentrale purchased a new stake in shares of Magnite during the 2nd quarter worth $93,000. Finally, Blue Trust Inc. boosted its position in Magnite by 87.0% during the third quarter. Blue Trust Inc. now owns 7,931 shares of the company’s stock valued at $105,000 after purchasing an additional 3,689 shares in the last quarter. 73.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGNI has been the topic of several analyst reports. Wolfe Research boosted their target price on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Benchmark reiterated a “buy” rating and set a $21.00 price objective on shares of Magnite in a research report on Wednesday, October 2nd. Scotiabank assumed coverage on shares of Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target for the company. Needham & Company LLC increased their price objective on shares of Magnite from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company assumed coverage on Magnite in a research report on Monday, October 28th. They set an “equal weight” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Magnite has a consensus rating of “Moderate Buy” and a consensus target price of $18.19.

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.