Magnite, Inc. (NASDAQ:MGNI - Get Free Report) CAO Brian Gephart sold 2,156 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.60, for a total transaction of $33,633.60. Following the completion of the transaction, the chief accounting officer now owns 112,795 shares of the company's stock, valued at $1,759,602. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Brian Gephart also recently made the following trade(s):
- On Monday, November 11th, Brian Gephart sold 2,156 shares of Magnite stock. The stock was sold at an average price of $15.00, for a total value of $32,340.00.
Magnite Trading Up 4.0 %
Shares of Magnite stock opened at $16.26 on Wednesday. The firm has a 50-day simple moving average of $13.20 and a two-hundred day simple moving average of $13.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.11. Magnite, Inc. has a fifty-two week low of $7.74 and a fifty-two week high of $17.00. The company has a market cap of $2.29 billion, a P/E ratio of 271.00, a price-to-earnings-growth ratio of 1.48 and a beta of 2.43.
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Several equities research analysts have weighed in on MGNI shares. Macquarie reissued an "outperform" rating and issued a $18.00 price target on shares of Magnite in a report on Friday, November 8th. Bank of America boosted their target price on shares of Magnite from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $19.00 price target on shares of Magnite in a report on Friday, September 27th. Craig Hallum reissued a "buy" rating and set a $20.00 price objective on shares of Magnite in a report on Wednesday, August 21st. Finally, Wells Fargo & Company initiated coverage on Magnite in a research note on Monday, October 28th. They issued an "equal weight" rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $16.96.
Get Our Latest Analysis on MGNI
Institutional Trading of Magnite
Several institutional investors have recently modified their holdings of MGNI. Geode Capital Management LLC lifted its stake in Magnite by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,968,286 shares of the company's stock worth $41,118,000 after purchasing an additional 63,545 shares in the last quarter. Barclays PLC grew its stake in Magnite by 352.9% during the 3rd quarter. Barclays PLC now owns 210,598 shares of the company's stock worth $2,917,000 after purchasing an additional 164,093 shares in the last quarter. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Magnite during the third quarter worth approximately $23,917,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Magnite in the 3rd quarter valued at $380,000. Finally, XTX Topco Ltd purchased a new stake in Magnite during the 3rd quarter worth about $220,000. Institutional investors and hedge funds own 73.40% of the company's stock.
About Magnite
(
Get Free Report)
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.
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