Magnite, Inc. (NASDAQ:MGNI) General Counsel Aaron Saltz Sells 34,091 Shares


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Magnite, Inc. (NASDAQ:MGNI) General Counsel Aaron Saltz sold 34,091 shares of the stock in a transaction on Monday, April 5th. The shares were sold at an average price of $40.77, for a total value of $1,389,890.07. Following the completion of the transaction, the general counsel now directly owns 312,132 shares in the company, valued at approximately $12,725,621.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Aaron Saltz also recently made the following trade(s):

  • On Tuesday, February 16th, Aaron Saltz sold 24,131 shares of Magnite stock. The shares were sold at an average price of $56.13, for a total value of $1,354,473.03.

Shares of NASDAQ MGNI 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 stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of -65.18 and a beta of 2.45. The business has a 50-day moving average of $46.93 and a 200-day moving average of $28.27.

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

A number of large investors have recently modified their holdings of the stock. Amalgamated Bank lifted its stake in Magnite by 1.7% in the 4th quarter. Amalgamated Bank now owns 13,483 shares of the company’s stock valued at $414,000 after purchasing an additional 225 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Magnite in the fourth quarter valued at approximately $25,000. AdvisorNet Financial Inc acquired a new stake in shares of Magnite in the fourth quarter valued at approximately $31,000. Parkside Financial Bank & Trust acquired a new stake in shares of Magnite in the fourth quarter valued at approximately $31,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Magnite in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 74.34% of the company’s stock.

A number of research analysts have recently weighed in on MGNI shares. B. Riley reissued a “neutral” rating on shares of Magnite in a research note on Thursday, January 28th. Craig Hallum increased 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. Susquehanna Bancshares initiated coverage on Magnite in a report on Friday, December 18th. They set a “positive” rating and a $30.00 target price for the company. Truist cut Magnite from a “buy” rating to a “hold” rating and raised their price objective for the company from $12.00 to $37.00 in a report on Monday, January 25th. Finally, Evercore ISI initiated coverage on Magnite in a report on Monday. They issued an “in-line” rating and a $44.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $41.63.

About Magnite

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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