Magnite (NASDAQ:MGNI) CTO David Buonasera Sells 5,706 Shares of Company 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 transaction of $155,488.50. Following the completion of the sale, the chief technology officer directly owned 239,449 shares in the company, valued at approximately $6,524,985.25. The trade was a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 shares were sold at an average price of $23.42, for a total transaction of $125,788.82.

Magnite Stock Performance

MGNI traded down $0.13 during trading on Friday, reaching $27.39. The company’s stock had a trading volume of 3,659,069 shares, compared to its average volume of 1,806,841. Magnite, Inc. has a 52-week low of $10.82 and a 52-week high of $28.17. The company’s fifty day moving average price is $24.06 and its 200-day moving average price is $17.85. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 0.71 and a beta of 2.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.02.

Magnite (NASDAQ:MGNI) last issued its earnings results on Wednesday, November 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $204.20 million during the quarter, compared to the consensus estimate of $190.19 million. Magnite had a return on equity of 9.33% and a net margin of 22.49%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. On average, equities analysts forecast that Magnite, Inc. will post 0.61 earnings per share for the current fiscal year.

Key Stories Impacting Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Magnite beat Q3 estimates, reporting $0.33 in adjusted earnings per share and $204.2 million in revenue. Contribution ex-TAC increased 20% year over year to $201 million, led by CTV contribution ex-TAC growth of 39% to $105 million. Magnite: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: The company raised its 2026 contribution ex-TAC growth outlook to about 17% and said it expects 2027 adjusted EBITDA margin of at least 38.5%, signaling confidence in growth and operating leverage. Magnite raises 2026 outlook and signals 2027 margins
• Positive Sentiment: RBC raised its price target to $30 from $27 and maintained an Outperform rating, reflecting continued analyst optimism. RBC raises Magnite price target
• Neutral Sentiment: CTO David Buonasera and insider Sean Buckley sold 5,706 and 10,991 shares, respectively. Both transactions were made under pre-arranged Rule 10b5-1 plans, and each retained a substantial stake. Buonasera SEC filing Buckley SEC filing
• Negative Sentiment: Wells Fargo raised its target to $23 from $22 but kept an Equal Weight rating; the target remains below the stock’s recent trading level, suggesting a more cautious view than RBC’s. Wells Fargo analyst recommendations

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MGNI. BlackRock Inc. acquired a new position in shares of Magnite during the 2nd quarter worth $241,296,000. Dimensional Fund Advisors LP boosted its position in shares of Magnite by 10.2% in 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 in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Magnite in the 2nd quarter valued at about $56,847,000. Bank of America Corp DE acquired a new stake in Magnite in the 2nd quarter valued at about $22,431,000. Finally, Bank of New York Mellon Corp acquired a new stake in Magnite in the 2nd quarter valued at about $22,059,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MGNI shares. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Magnite in a research report on Wednesday, September 9th. Evercore restated an “outperform” rating and set a $25.00 target price on shares of Magnite in a research report on Thursday, August 6th. Benchmark upped 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. Royal Bank Of Canada increased their price target on shares of Magnite from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Magnite from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Magnite presently has an average rating of “Moderate Buy” and a consensus target price of $30.45.

Magnite Company Profile

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.