Insider Selling: Magnite (NASDAQ:MGNI) CTO Sells 5,706 Shares of Stock

Magnite, Inc. (NASDAQ:MGNI) CTO David Buonasera sold 5,706 shares of Magnite stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $27.25, for a total value of $155,488.50. Following the completion of the transaction, the chief technology officer directly owned 239,449 shares of the company’s stock, valued at approximately $6,524,985.25. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, David Buonasera sold 1,165 shares of Magnite stock. The stock was sold at an average price of $24.00, for a total transaction of $27,960.00.
• On Wednesday, September 2nd, David Buonasera sold 1,043 shares of Magnite stock. The stock was sold at an average price of $25.00, for a total transaction of $26,075.00.
• On Tuesday, September 1st, David Buonasera sold 5,371 shares of Magnite stock. The stock was sold at an average price of $23.42, for a total transaction of $125,788.82.

Magnite Stock Down 0.5%

Shares of NASDAQ MGNI traded down $0.13 during midday trading on Friday, hitting $27.39. The company’s stock had a trading volume of 3,658,860 shares, compared to its average volume of 2,520,394. The business’s fifty day simple moving average is $23.98 and its two-hundred day simple moving average is $17.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.03. Magnite, Inc. has a 1 year low of $10.82 and a 1 year high of $28.17. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 0.75 and a beta of 2.44.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. Magnite had a net margin of 23.58% and a return on equity of 11.04%. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $190.19 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, equities analysts predict that Magnite, Inc. will post 0.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on MGNI shares. Benchmark boosted their price target on shares of Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Susquehanna increased their price objective on Magnite from $30.00 to $35.00 and gave the company a “positive” rating in a research note on Thursday. Scotiabank lifted their target price on Magnite from $27.00 to $30.00 and gave the company a “sector outperform” rating in a report on Thursday. Craig Hallum reissued a “buy” rating and set a $32.00 target price on shares of Magnite in a research note on Thursday, September 17th. Finally, BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Magnite in a research note on Wednesday, September 9th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.45.

Hedge Funds Weigh In On Magnite

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Magnite in the second quarter valued at $241,296,000. Dimensional Fund Advisors LP lifted its holdings in Magnite by 10.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock worth $47,322,000 after buying an additional 367,854 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Magnite during the 2nd quarter worth about $56,847,000. Bank of America Corp DE acquired a new position in shares of Magnite during the 2nd quarter worth about $22,431,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Magnite during the 2nd quarter worth about $22,059,000. Institutional investors and hedge funds own 73.40% of the company’s stock.

Key Magnite News

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Q3 results beat expectations. Revenue was $204.2 million, while adjusted EPS was $0.33, ahead of consensus. Contribution ex-TAC—a key measure of the company’s underlying advertising business—rose 20% year over year to $200.6 million. Magnite Q3 results
• Positive Sentiment: CTV was a standout growth engine. CTV contribution ex-TAC climbed 39% to $105.4 million, beating the company’s guidance range. DV+ contribution also exceeded guidance, growing 5%. Coverage cited CTV strength and a political-advertising surge as factors behind the quarter. Three takeaways for long-term investors
• Positive Sentiment: Management raised its outlook. Magnite lifted its 2026 contribution ex-TAC growth forecast to about 17% and expects adjusted EBITDA growth of about 30%, a margin of about 38.5% and free-cash-flow growth above 60%. For 2027, it forecast more than 15% top-line growth excluding political advertising and an adjusted EBITDA margin of at least 38.5%. Magnite raises outlook
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, signaling continued analyst confidence. RBC price-target update
• Neutral Sentiment: Wells Fargo also raised its target, from $22 to $23, but kept an Equal Weight rating; its target remains below the recently cited share price, suggesting a more cautious view of valuation. Wells Fargo recommendations

About Magnite

Magnite, Inc operates an independent omnichannel sell-side advertising platform that helps publishers and digital media owners monetize their content while enabling advertisers to reach audiences across multiple channels. Its platform supports the buying and selling of digital advertising inventory through automated auctions and direct transactions.

The company’s solutions serve connected television and streaming video, online display and mobile advertising, audio, and digital out-of-home media.