Magnite Inc (MGNI, Financial), a prominent player in the digital advertising technology sector, recently witnessed a significant transaction by its CEO, Michael Barrett. On July 15, 2024, the insider sold 100,000 shares of the company at a price of $15 per share, as detailed in the SEC Filing. Following this transaction, the insider now owns 1,052,493 shares of Magnite Inc.
Magnite Inc specializes in providing a technology platform that enables publishers to manage their advertising revenue. The company's offerings include tools for selling advertising space to advertisers through various channels, including digital video, display, and other advanced formats.
Over the past year, Michael Barrett has sold a total of 435,869 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend observed within the company, where there have been 30 insider sells and no insider buys over the past year.
The stock of Magnite Inc, with a market cap of approximately $2.07 billion, is currently trading at $15. This valuation places the company's price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow in a context that suggests a modest overvaluation according to the GF Value of $12.16, with a price-to-GF-Value ratio of 1.23.
The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus for past performance, and future business performance estimates provided by Morningstar analysts.
This insider selling activity could be of interest to current and potential investors, providing insights into executive sentiment and potential future stock performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
