Magnite (MGNI): chief legal officer Saltz sells $147,949 in stock

Published 17/09/2025, 21:48
Magnite (MGNI): chief legal officer Saltz sells $147,949 in stock

Magnite Inc. (NASDAQ:MGNI), the digital advertising technology company with a market capitalization of $3.4 billion, reported its Chief Legal Officer Aaron Saltz sold 6,180 shares of company stock on September 15, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a price of $23.94, for a total transaction value of $147,949. The stock has shown remarkable strength, delivering a 75% return over the past year. According to InvestingPro, which offers comprehensive analysis of 1,400+ stocks, Magnite currently trades at elevated earnings and EBITDA multiples.

Following the transaction, Saltz directly owns 223,601 shares of Magnite.

The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 14, 2025.

In other recent news, Magnite reported strong second-quarter results, with net revenue excluding traffic acquisition costs reaching $162 million, marking a 10% year-over-year increase. This performance exceeded Needham’s estimates by 3%, leading the firm to raise its price target for Magnite stock to $25 while maintaining a Buy rating. Similarly, Evercore ISI increased its price target to $27.25, citing the company’s solid performance and guidance for third-quarter results above market expectations. Benchmark also reiterated its Buy rating and a $31 price target, highlighting Magnite’s potential for organic growth in the coming years.

In addition to financial updates, Magnite has amended its sublease agreement with Zillow Group to expand its leased space, including the entire 8th floor. This amendment is set to become effective on November 1, 2025. Furthermore, Magnite has become Acxiom’s first programmatic sell-side partner, enabling advertisers to activate both first-party and third-party data directly through Magnite. This integration aims to reduce costs and direct more ad spend toward working media. These developments reflect the company’s ongoing strategic initiatives and partnerships.

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