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

Magnite, Inc. (NASDAQ:MGNI) insider Katie Seitz Evans sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $24.00, for a total transaction of $480,000.00. Following the sale, the insider owned 496,840 shares in the company, valued at approximately $11,924,160. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Stock Performance

Shares of MGNI stock opened at $24.72 on Friday. The firm has a 50 day moving average of $18.69 and a two-hundred day moving average of $14.94. The stock has a market capitalization of $3.54 billion, a PE ratio of 22.68, a P/E/G ratio of 1.26 and a beta of 2.26. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Magnite, Inc. has a 52 week low of $10.82 and a 52 week high of $26.65.

Magnite (NASDAQ:MGNI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $192.82 million for the quarter, compared to analysts’ expectations of $179.15 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 11.3% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. On average, research analysts predict that Magnite, Inc. will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Magnite

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Magnite by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,847 shares of the company’s stock worth $854,000 after purchasing an additional 3,267 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Magnite by 113.7% in the 1st quarter. Millennium Management LLC now owns 434,479 shares of the company’s stock valued at $4,957,000 after buying an additional 231,213 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Magnite by 24.3% in the 1st quarter. Jones Financial Companies Lllp now owns 7,276 shares of the company’s stock valued at $83,000 after buying an additional 1,423 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Magnite by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 404,717 shares of the company’s stock valued at $4,618,000 after buying an additional 36,097 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Magnite by 103.6% during the 1st quarter. Intech Investment Management LLC now owns 109,992 shares of the company’s stock worth $1,255,000 after acquiring an additional 55,971 shares in the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

Key Stories Impacting 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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings upgraded shares of Magnite from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Scotiabank reissued an “outperform” rating and issued a $27.00 price objective on shares of Magnite in a research report on Thursday. B. Riley Financial increased their price objective on shares of Magnite from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price objective on shares of Magnite in a report on Thursday, April 16th. 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, Magnite has an average rating of “Moderate Buy” and a consensus price target of $28.30.

Magnite Company Profile

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).