David Buonasera Sells 7,649 Shares of Magnite (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 7,649 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $23.46, for a total transaction of $179,445.54. Following the completion of the sale, the chief technology officer owned 260,836 shares of the company’s stock, valued at $6,119,212.56. This trade represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, July 7th, David Buonasera sold 1,224 shares of Magnite stock. The shares were sold at an average price of $21.00, for a total value of $25,704.00.
• On Wednesday, July 1st, David Buonasera sold 9,376 shares of Magnite stock. The stock was sold at an average price of $20.00, for a total value of $187,520.00.
• On Wednesday, June 17th, David Buonasera sold 1,409 shares of Magnite stock. The stock was sold at an average price of $19.00, for a total value of $26,771.00.
• On Tuesday, June 16th, David Buonasera sold 11,233 shares of Magnite stock. The stock was sold at an average price of $18.00, for a total value of $202,194.00.
• On Monday, June 15th, David Buonasera sold 1,057 shares of Magnite stock. The shares were sold at an average price of $17.00, for a total value of $17,969.00.
• On Monday, June 1st, David Buonasera sold 1,409 shares of Magnite stock. The shares were sold at an average price of $15.00, for a total value of $21,135.00.

Magnite Price Performance

Shares of MGNI stock opened at $24.72 on Friday. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.26 and a beta of 2.26. The business’s fifty day moving average is $18.69 and its 200 day moving average is $14.94. Magnite, Inc. has a twelve month low of $10.82 and a twelve month high of $26.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Magnite (NASDAQ:MGNI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $192.82 million during 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%.The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Research analysts expect that Magnite, Inc. will post 0.44 EPS for the current fiscal year.

Key Stories Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGNI. Wells Fargo & Company lifted their price target on shares of Magnite from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday. Benchmark raised their target price on shares of Magnite from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Evercore reiterated an “outperform” rating and set a $25.00 target price on shares of Magnite in a report on Thursday. BTIG Research boosted their price target on Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Susquehanna upped their price target on Magnite from $22.00 to $30.00 and gave the stock a “positive” rating in a research note on Thursday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.30.

Hedge Funds Weigh In On Magnite

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Magnite by 75.8% in the 3rd quarter. US Bancorp DE now owns 1,596 shares of the company’s stock worth $35,000 after purchasing an additional 688 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Magnite by 106.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,783 shares of the company’s stock valued at $45,000 after purchasing an additional 1,949 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Magnite by 98.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,678 shares of the company’s stock valued at $61,000 after purchasing an additional 1,824 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in Magnite during the 2nd quarter valued at about $62,000. Finally, Optiver Holding B.V. raised its holdings in Magnite by 2,746.4% in the first quarter. Optiver Holding B.V. now owns 5,579 shares of the company’s stock worth $66,000 after buying an additional 5,383 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

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).