Aaron Saltz Sells 6,110 Shares of Magnite, Inc. (NASDAQ:MGNI) Stock

Magnite, Inc. (NASDAQ:MGNI) insider Aaron Saltz sold 6,110 shares of Magnite stock in a transaction on Monday, November 25th. The stock was sold at an average price of $17.50, for a total transaction of $106,925.00. Following the sale, the insider now owns 297,482 shares in the company, valued at $5,205,935. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Aaron Saltz also recently made the following trade(s):

• On Thursday, November 7th, Aaron Saltz sold 5,112 shares of Magnite stock. The shares were sold at an average price of $13.50, for a total transaction of $69,012.00.

Magnite Stock Down 0.4 %

Shares of NASDAQ:MGNI opened at $16.62 on Friday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 277.00, a PEG ratio of 1.36 and a beta of 2.43. Magnite, Inc. has a fifty-two week low of $7.97 and a fifty-two week high of $18.38. The firm’s 50-day simple moving average is $13.65 and its 200-day simple moving average is $13.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Magnite

A number of institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its stake in shares of Magnite by 111.8% during the 2nd quarter. UMB Bank n.a. now owns 2,251 shares of the company’s stock worth $30,000 after buying an additional 1,188 shares in the last quarter. Asset Dedication LLC acquired a new position in Magnite during the second quarter worth $52,000. Blue Trust Inc. purchased a new position in Magnite in the second quarter worth $56,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Magnite by 973.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,380 shares of the company’s stock valued at $58,000 after acquiring an additional 3,972 shares during the period. Finally, Quarry LP boosted its position in shares of Magnite by 446.8% during the 3rd quarter. Quarry LP now owns 5,517 shares of the company’s stock worth $76,000 after purchasing an additional 4,508 shares in the last quarter. Hedge funds and other institutional investors own 73.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $21.00 target price on shares of Magnite in a report on Wednesday, October 2nd. Craig Hallum reiterated a “buy” rating and issued a $20.00 price objective on shares of Magnite in a research note on Wednesday, August 21st. Wells Fargo & Company assumed coverage on Magnite in a report on Monday, October 28th. They issued an “equal weight” rating and a $13.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Magnite in a report on Friday, September 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Magnite in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.96.

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.