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David Buonasera, Chief Technology Officer of Magnite Inc (NASDAQ:MGNI), sold 2,950 shares of common stock on September 3, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The digital advertising technology company, currently valued at $3.54 billion, has seen its stock surge 67.5% over the past six months.
The shares were sold at a price of $25.37, for a total transaction value of $74,841. Following the transaction, Buonasera directly owns 238,629 shares of Magnite. Analysts maintain a strong buy consensus on the stock, with price targets ranging from $24 to $39. InvestingPro analysis reveals 14 additional key insights about Magnite’s financial health and valuation.
The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 15, 2024. The stock currently trades at a high earnings multiple of 81x, reflecting market expectations for future growth.
In other recent news, Magnite reported strong financial results for the second quarter of 2025, with earnings per share reaching $0.20, surpassing the expected $0.17. The company’s revenue also exceeded forecasts, coming in at $173.3 million compared to the anticipated $157.44 million. Net revenue, excluding traffic acquisition costs, was $162 million, marking a 10% year-over-year increase. Analysts at Needham responded positively by raising their price target for Magnite to $25.00, maintaining a Buy rating. Similarly, Evercore ISI increased its price target to $27.25, citing the company’s solid performance despite macroeconomic uncertainties. In addition to financial achievements, Magnite has become Acxiom’s first programmatic partner for sell-side data activation, enhancing advertisers’ ability to activate data efficiently. This integration aims to reduce costs and eliminate unnecessary fees, directing more ad spend toward effective media. These developments reflect Magnite’s ongoing strategic advancements and financial strength.
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