Kopion Asset Management LLC Has $10.21 Million Holdings in Magnite, Inc. (NASDAQ:MGNI)

Kopion Asset Management LLC reduced its stake in shares of Magnite, Inc. (NASDAQ:MGNI) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 641,509 shares of the company’s stock after selling 8,910 shares during the period. Magnite accounts for approximately 7.2% of Kopion Asset Management LLC’s portfolio, making the stock its 4th biggest holding. Kopion Asset Management LLC owned 0.46% of Magnite worth $10,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGNI. Commonwealth Equity Services LLC boosted its position in Magnite by 668.3% during the second quarter. Commonwealth Equity Services LLC now owns 81,573 shares of the company’s stock worth $1,084,000 after purchasing an additional 70,956 shares during the period. Arizona State Retirement System grew its position in shares of Magnite by 3.4% in the second quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock valued at $469,000 after purchasing an additional 1,160 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Magnite by 15.0% in the second quarter. American Century Companies Inc. now owns 247,349 shares of the company’s stock worth $3,287,000 after purchasing an additional 32,334 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Magnite during the 2nd quarter worth about $93,000. Finally, Envestnet Asset Management Inc. boosted its stake in Magnite by 1,070.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 213,576 shares of the company’s stock valued at $2,838,000 after purchasing an additional 195,327 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

MGNI has been the subject of several research reports. Wolfe Research increased their price objective on Magnite from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Scotiabank started coverage on Magnite in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $22.00 price target on the stock. Needham & Company LLC lifted their price objective on Magnite from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada lifted their price target 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. Finally, Macquarie reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Magnite in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.19.

Magnite Price Performance

Shares of MGNI stock traded up $0.48 during trading hours on Wednesday, hitting $16.12. 137,044 shares of the company’s stock were exchanged, compared to its average volume of 1,514,150. The stock’s 50-day moving average is $16.30 and its 200-day moving average is $14.32. 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 52 week low of $8.38 and a 52 week high of $18.38. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 268.67, a price-to-earnings-growth ratio of 1.35 and a beta of 2.51.

Insider Buying and Selling at Magnite

In other news, CAO Brian Gephart sold 2,156 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $15.00, for a total transaction of $32,340.00. Following the completion of the sale, the chief accounting officer now owns 116,982 shares in the company, valued at $1,754,730. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael G. Barrett sold 147,996 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $17.52, for a total value of $2,592,889.92. Following the transaction, the chief executive officer now directly owns 634,914 shares in the company, valued at $11,123,693.28. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 366,097 shares of company stock worth $6,165,147. 4.30% of the stock is currently owned by corporate insiders.

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.