Magnite (NASDAQ:MGNI) Insider Katie Seitz Evans Sells 11,100 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) insider Katie Evans sold 11,100 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $23.46, for a total transaction of $260,406.00. Following the completion of the transaction, the insider owned 455,797 shares in the company, valued at approximately $10,692,997.62. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katie Seitz Evans also recently made the following trade(s):

• On Tuesday, September 8th, Katie Evans sold 32,285 shares of Magnite stock. The stock was sold at an average price of $23.63, for a total transaction of $762,894.55.
• On Thursday, August 6th, Katie Evans sold 20,000 shares of Magnite stock. The stock was sold at an average price of $24.00, for a total transaction of $480,000.00.

Magnite Stock Performance

NASDAQ MGNI opened at $23.55 on Friday. Magnite, Inc. has a 1-year low of $10.82 and a 1-year high of $26.19. The company has a 50 day moving average of $21.97 and a 200-day moving average of $16.79. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.03 and a beta of 2.30.

Magnite (NASDAQ:MGNI) last announced its earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $192.82 million for the quarter, compared to the consensus estimate of $179.15 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%.Magnite’s revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. On average, equities analysts forecast that Magnite, Inc. will post 0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MGNI shares. B. Riley Financial increased their target price on Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Royal Bank Of Canada lifted their price target on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magnite in a report on Friday, August 7th. Evercore reiterated an “outperform” rating and set a $25.00 price target on shares of Magnite in a research report on Thursday, August 6th. Finally, Wells Fargo & Company increased their price objective on shares of Magnite from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors boosted its position in Magnite by 85.0% in the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock valued at $209,696,000 after buying an additional 5,937,428 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Magnite during the second quarter worth $241,296,000. Wellington Management Group LLP raised its position in shares of Magnite by 67.7% during the fourth quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company’s stock worth $140,053,000 after acquiring an additional 3,484,689 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Magnite by 10.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock valued at $47,322,000 after acquiring an additional 367,854 shares during the period. Finally, Nuveen LLC lifted its stake in shares of Magnite by 14.2% during the fourth quarter. Nuveen LLC now owns 3,531,108 shares of the company’s stock valued at $57,310,000 after acquiring an additional 439,072 shares during the period. Institutional investors own 73.40% of the company’s stock.

Key Stories Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite and ITN expanded their partnership to launch an agentic-AI solution through Magnite Orchestration for local linear television advertising. The technology is designed to reduce campaign-buying timelines from several weeks to hours, potentially improving advertiser adoption and Magnite’s transaction volumes. Magnite and ITN Expand Partnership to Introduce Agentic AI Solution for Local Linear TV
• Positive Sentiment: Telly expanded its partnership with Magnite, enabling advertisers to programmatically purchase Home Screen advertising on Telly’s connected-TV devices. The deal builds on Magnite’s SpringServe ad-server relationship and broadens its access to streaming inventory. Telly Takes Television Advertising Beyond The Commercial Break
• Positive Sentiment: BTIG reaffirmed its Buy rating and maintained a $27 price target, implying roughly 14.6% potential upside from the referenced share price. The endorsement supports the view that Magnite’s connected-TV and programmatic advertising growth remains undervalued.
• Neutral Sentiment: Magnite presented at the Bank of America Media, Communications & Entertainment Conference. The transcript may provide additional management commentary, but no major new financial guidance was highlighted in the available report. Bank of America Conference Transcript
• Neutral Sentiment: Reported short interest was zero shares, with a zero-day days-to-cover ratio. Because the figures show no measurable short position, this data offers little insight into near-term trading pressure.
• Negative Sentiment: Insider Katie Evans sold a combined 43,385 shares for approximately $1.02 million. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, which reduces their significance as a discretionary bearish signal, although the sales can still weigh modestly on sentiment.
• Negative Sentiment: Magnite did not participate in the broader ad-tech rally that lifted Digital Turbine and AppLovin, indicating investors may want stronger evidence that the new AI and connected-TV initiatives will translate into accelerating revenue and earnings.

About Magnite

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).