Magnite (NASDAQ:MGNI) CEO Michael Barrett Sells 293,968 Shares

Magnite, Inc. (NASDAQ:MGNI) CEO Michael Barrett sold 293,968 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $22.72, for a total value of $6,678,952.96. Following the completion of the sale, the chief executive officer directly owned 403,074 shares of the company’s stock, valued at $9,157,841.28. The trade was a 42.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $18.69 and its two-hundred day simple moving average is $14.94. The company has a market cap of $3.54 billion, a P/E ratio of 22.68, a PEG ratio of 1.24 and a beta of 2.26. Magnite, Inc. has a 12-month low of $10.82 and a 12-month high of $26.65.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MGNI. Weiss Ratings raised Magnite from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Scotiabank reiterated an “outperform” rating and issued a $27.00 price objective on shares of Magnite in a report on Thursday. Evercore reissued an “outperform” rating and set a $25.00 price objective on shares of Magnite in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of Magnite from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Royal Bank Of Canada upped their target price on shares of Magnite from $20.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.30.

Hedge Funds Weigh In On Magnite

A number of hedge funds have recently bought and sold shares of MGNI. Vanguard Group Inc. raised its holdings in Magnite by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,802,630 shares of the company’s stock worth $240,247,000 after buying an additional 148,198 shares during the last quarter. Capital Research Global Investors increased its position in shares of 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 acquiring an additional 5,937,428 shares in the last quarter. BlackRock Inc. purchased a new position in Magnite in the 2nd quarter worth approximately $241,296,000. Wellington Management Group LLP raised its holdings in Magnite by 67.7% in the 4th quarter. Wellington Management Group LLP now owns 8,629,238 shares of the company’s stock worth $140,053,000 after acquiring an additional 3,484,689 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Magnite by 10.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,983,674 shares of the company’s stock worth $47,322,000 after acquiring an additional 367,854 shares during the last quarter. Institutional investors own 73.40% of the company’s stock.

More Magnite News

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

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).