Insider Selling: Magnite, Inc. (NASDAQ:MGNI) COO Sells 27,896 Shares of Stock


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Magnite, Inc. (NASDAQ:MGNI) COO Katie Seitz Evans sold 27,896 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $40.26, for a total value of $1,123,092.96. Following the sale, the chief operating officer now owns 391,898 shares in the company, valued at approximately $15,777,813.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Tuesday, February 16th, Katie Seitz Evans sold 30,138 shares of Magnite stock. The stock was sold at an average price of $56.13, for a total transaction of $1,691,645.94.

Magnite stock opened at $39.76 on Thursday. Magnite, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $64.39. The firm has a market capitalization of $4.60 billion, a PE ratio of -65.18 and a beta of 2.45. The company’s 50-day moving average is $46.93 and its 200-day moving average is $28.27.

Magnite (NASDAQ:MGNI) last posted its earnings results on Wednesday, February 24th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. Magnite had a negative net margin of 30.72% and a negative return on equity of 9.19%. Sell-side analysts anticipate that Magnite, Inc. will post -0.21 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Evercore ISI began coverage on shares of Magnite in a research note on Monday. They set an “in-line” rating and a $44.00 price target on the stock. Craig Hallum raised their target price on Magnite from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, February 25th. Needham & Company LLC upped their price target on Magnite from $30.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 9th. Susquehanna Bancshares started coverage on shares of Magnite in a report on Friday, December 18th. They set a “positive” rating and a $30.00 price objective for the company. Finally, B. Riley reissued a “neutral” rating on shares of Magnite in a research report on Thursday, January 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $41.63.

Institutional investors and hedge funds have recently made changes to their positions in the business. Voloridge Investment Management LLC acquired a new stake in Magnite in the fourth quarter valued at approximately $5,730,000. Scout Investments Inc. bought a new position in shares of Magnite during the fourth quarter worth about $19,378,000. Nuveen Asset Management LLC lifted its position in shares of Magnite by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 957,343 shares of the company’s stock worth $29,400,000 after purchasing an additional 26,556 shares during the period. Advisory Research Inc. acquired a new stake in shares of Magnite during the fourth quarter worth $1,322,000. Finally, ProShare Advisors LLC grew its holdings in Magnite by 54.4% during the 4th quarter. ProShare Advisors LLC now owns 1,682,598 shares of the company’s stock worth $51,673,000 after acquiring an additional 592,933 shares during the period. Institutional investors and hedge funds own 74.34% of the company’s stock.

Magnite Company Profile

Magnite, Inc provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D.

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Insider Buying and Selling by Quarter for Magnite (NASDAQ:MGNI)

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