Magnite (NASDAQ:MGNI) Insider Katie Seitz Evans Sells 20,000 Shares

Magnite, Inc. (NASDAQ:MGNI) insider Katie Seitz Evans sold 20,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $24.00, for a total value of $480,000.00. Following the completion of the sale, the insider owned 496,840 shares of the company’s stock, valued at $11,924,160. This represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Stock Up 1.6%

Shares of Magnite stock opened at $24.72 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.24 and a beta of 2.26. The firm’s 50-day moving average is $18.69 and its two-hundred day moving average is $14.94. Magnite, Inc. has a 1 year low of $10.82 and a 1 year high of $26.65.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The firm had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $179.15 million. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, research analysts expect that Magnite, Inc. will post 0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MGNI has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Magnite from $22.00 to $30.00 and gave the company a “positive” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Magnite from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday. B. Riley Financial boosted their target price on Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price target on shares of Magnite in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada raised their price target on Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.30.

Trending Headlines about Magnite

Here are the key news stories impacting Magnite this week:

• Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report
• Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook
• Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases
• Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison
• Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target

Institutional Investors Weigh In On Magnite

A number of large investors have recently made changes to their positions in the stock. Stephens Investment Management Group LLC boosted its holdings in shares of Magnite by 17.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company’s stock valued at $18,317,000 after acquiring an additional 164,035 shares during the last quarter. Royce & Associates LP increased its stake in shares of Magnite by 19.5% in the fourth quarter. Royce & Associates LP now owns 1,166,469 shares of the company’s stock worth $18,932,000 after acquiring an additional 190,318 shares during the period. Meros Investment Management LP raised its holdings in shares of Magnite by 34.5% during the fourth quarter. Meros Investment Management LP now owns 825,595 shares of the company’s stock worth $13,399,000 after purchasing an additional 211,767 shares during the last quarter. Capital Research Global Investors lifted its position in Magnite by 85.0% during the fourth quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock valued at $209,696,000 after purchasing an additional 5,937,428 shares during the period. Finally, CenterBook Partners LP boosted its holdings in Magnite by 137.1% in the fourth quarter. CenterBook Partners LP now owns 172,546 shares of the company’s stock valued at $2,800,000 after purchasing an additional 99,760 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

About Magnite

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).