Magnite, Inc. (NASDAQ:MGNI) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Magnite, Inc. (NASDAQ:MGNI – Get Rating) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 288,900 shares of the company’s stock after acquiring an additional 8,500 shares during the period. Swiss National Bank owned 0.22% of Magnite worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its stake in Magnite by 555.0% in the 3rd quarter. Nuveen Asset Management LLC now owns 17,128,277 shares of the company’s stock valued at $112,533,000 after acquiring an additional 14,513,175 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Magnite by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,090,420 shares of the company’s stock worth $79,435,000 after purchasing an additional 262,869 shares during the last quarter. Edenbrook Capital LLC boosted its stake in shares of Magnite by 39.3% during the 3rd quarter. Edenbrook Capital LLC now owns 5,792,796 shares of the company’s stock worth $38,059,000 after purchasing an additional 1,633,560 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Magnite by 138.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,964,654 shares of the company’s stock worth $25,953,000 after purchasing an additional 1,141,790 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Magnite by 17.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,391,141 shares of the company’s stock worth $9,139,000 after purchasing an additional 203,054 shares during the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on MGNI. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Magnite in a research note on Wednesday, March 22nd. B. Riley initiated coverage on shares of Magnite in a report on Wednesday, April 12th. They set a “buy” rating and a $15.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $14.00 price objective on shares of Magnite in a report on Tuesday, February 21st. Susquehanna increased their price objective on shares of Magnite from $13.00 to $15.00 and gave the stock a “positive” rating in a report on Thursday, February 23rd. Finally, 22nd Century Group reiterated a “reiterates” rating on shares of Magnite in a report on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Magnite has an average rating of “Moderate Buy” and an average price target of $14.22.

Magnite Trading Up 9.7 %

MGNI opened at $12.51 on Tuesday. The firm has a market capitalization of $1.70 billion, a P/E ratio of -9.13 and a beta of 2.15. The firm’s 50 day moving average is $9.47 and its 200-day moving average is $10.35. Magnite, Inc. has a 52-week low of $5.59 and a 52-week high of $14.20. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.96.

Magnite (NASDAQ:MGNI – Get Rating) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.22. The company had revenue of $130.15 million for the quarter, compared to analyst estimates of $110.90 million. Magnite had a negative net margin of 31.31% and a positive return on equity of 3.29%. Analysts expect that Magnite, Inc. will post -0.25 EPS for the current fiscal year.

Insider Transactions at Magnite

In other news, CRO Sean Patrick Buckley sold 5,640 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $10.88, for a total transaction of $61,363.20. Following the completion of the sale, the executive now owns 335,021 shares of the company’s stock, valued at $3,645,028.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Magnite news, CEO Michael G. Barrett sold 24,679 shares of Magnite stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $10.88, for a total value of $268,507.52. Following the completion of the transaction, the chief executive officer now owns 1,505,072 shares of the company’s stock, valued at $16,375,183.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Sean Patrick Buckley sold 5,640 shares of Magnite stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $10.88, for a total transaction of $61,363.20. Following the completion of the transaction, the executive now directly owns 335,021 shares of the company’s stock, valued at approximately $3,645,028.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,021 shares of company stock valued at $750,948. 3.40% of the stock is currently owned by corporate insiders.

Magnite Company Profile

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Magnite, Inc provides a technology solution to automate the purchase and sale of digital advertising inventory for buyers and sellers. It features applications and services for digital advertising sellers including websites, mobile applications, and other digital media properties. The company was founded by Frank Addante, Duc Chau, Craig Roah, Julie Mattern and Brian D.