Magnite, Inc. $MGNI Stock Position Reduced by S Squared Technology LLC

S Squared Technology LLC trimmed its position in Magnite, Inc. (NASDAQ:MGNI) by 12.8% in the second quarter, Holdings Channel.com reports. The fund owned 306,621 shares of the company’s stock after selling 45,000 shares during the period. Magnite makes up approximately 3.1% of S Squared Technology LLC’s investment portfolio, making the stock its 12th largest position. S Squared Technology LLC’s holdings in Magnite were worth $7,396,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MGNI. Teacher Retirement System of Texas bought a new stake in Magnite during the first quarter valued at $233,000. Principal Financial Group Inc. grew its position in shares of Magnite by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 124,547 shares of the company’s stock valued at $1,421,000 after buying an additional 1,474 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Magnite by 16.7% during the first quarter. Envestnet Asset Management Inc. now owns 220,544 shares of the company’s stock worth $2,516,000 after acquiring an additional 31,604 shares during the period. Brown Advisory Inc. bought a new position in Magnite in the first quarter worth about $290,000. Finally, M&T Bank Corp lifted its holdings in Magnite by 31.5% in the first quarter. M&T Bank Corp now owns 18,960 shares of the company’s stock worth $216,000 after acquiring an additional 4,537 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors.

Insider Activity at Magnite

In related news, CEO Michael G. Barrett sold 35,951 shares of Magnite stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $23.85, for a total transaction of $857,431.35. Following the transaction, the chief executive officer directly owned 249,857 shares of the company’s stock, valued at $5,959,089.45. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katie Seitz Evans sold 21,509 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $25.52, for a total transaction of $548,909.68. Following the completion of the sale, the insider directly owned 394,089 shares of the company’s stock, valued at $10,057,151.28. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 323,275 shares of company stock worth $7,866,326 in the last quarter. Company insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Benchmark upped their target price on Magnite from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on Magnite from $19.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Scotiabank reiterated an “outperform” rating and issued a $30.00 target price (up from $22.00) on shares of Magnite in a research note on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnite in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Magnite from a “buy” rating to a “hold” rating in a report on Saturday. Nine 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 price target of $26.20.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $15.10 on Monday. The stock has a market cap of $2.17 billion, a P/E ratio of 52.07, a P/E/G ratio of 1.42 and a beta of 3.13. The firm’s 50-day simple moving average is $20.85 and its 200 day simple moving average is $20.14. Magnite, Inc. has a fifty-two week low of $8.22 and a fifty-two week high of $26.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.45.

Magnite (NASDAQ:MGNI) last released its earnings results on Wednesday, November 5th. The company reported $0.20 EPS for the quarter, meeting the consensus estimate of $0.20. Magnite had a net margin of 6.30% and a return on equity of 8.07%. The firm had revenue of $179.49 million for the quarter, compared to analysts’ expectations of $163.29 million. During the same quarter last year, the company earned $0.17 EPS. Magnite’s quarterly revenue was up 11.6% on a year-over-year basis. Magnite has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts expect that Magnite, Inc. will post 0.33 EPS for the current year.

Magnite Company Profile

Magnite, Inc, together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers.