David Day Sells 13,345 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) CFO David Day sold 13,345 shares of Magnite stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $17.00, for a total transaction of $226,865.00. Following the transaction, the chief financial officer now directly owns 374,014 shares in the company, valued at $6,358,238. The trade was a 3.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

David Day also recently made the following trade(s):

• On Monday, December 16th, David Day sold 11,644 shares of Magnite stock. The stock was sold at an average price of $16.44, for a total transaction of $191,427.36.

Magnite Price Performance

Shares of NASDAQ MGNI opened at $16.46 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average of $16.03 and a 200-day moving average of $14.24. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 274.33, a PEG ratio of 1.35 and a beta of 2.51. Magnite, Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $18.38.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MGNI. Verdence Capital Advisors LLC grew its stake in shares of Magnite by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 19,326 shares of the company’s stock valued at $268,000 after buying an additional 892 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its stake in Magnite by 4.6% in the third quarter. Mount Yale Investment Advisors LLC now owns 24,229 shares of the company’s stock valued at $336,000 after acquiring an additional 1,068 shares during the last quarter. Arizona State Retirement System grew its position in shares of Magnite by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 35,256 shares of the company’s stock valued at $469,000 after acquiring an additional 1,160 shares during the period. Fulton Bank N.A. increased its stake in shares of Magnite by 6.4% during the 3rd quarter. Fulton Bank N.A. now owns 28,311 shares of the company’s stock worth $392,000 after purchasing an additional 1,696 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Magnite by 8.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,449 shares of the company’s stock valued at $408,000 after purchasing an additional 2,298 shares during the period. Institutional investors and hedge funds own 73.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MGNI. Royal Bank of Canada upped their price objective on shares of Magnite from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Macquarie reaffirmed an “outperform” rating and set a $18.00 price target on shares of Magnite in a research report on Friday, November 8th. Wells Fargo & Company started coverage on Magnite in a research report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price objective for the company. Wolfe Research raised their target price on shares of Magnite from $14.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC upped their price target on shares of Magnite from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.19.

About Magnite

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.