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Magnite Inc. NASDAQ:MGNI Chief Product Officer Adam Lee Soroca sold 24,986 shares of common stock on September 2, 2025, netting $616,948. The sales were executed in multiple transactions with prices ranging from $24.22 to $24.97. The stock, which has delivered an impressive 84.65% return over the past year according to InvestingPro data, currently trades at $24.85 with a market capitalization of $3.54 billion.
Soroca’s transactions also included the exercise of employee stock options to acquire 24,986 shares of Magnite common stock at a price of $4.92, for a total value of $122,931.
Following these transactions, Soroca directly owns 346,393 shares of Magnite.
In other recent news, Magnite reported better-than-expected financial results for the second quarter of 2025. The company posted an earnings per share (EPS) of $0.20, surpassing the anticipated $0.17, and achieved revenue of $173.3 million, exceeding the forecasted $157.44 million. Needham responded by raising its price target for Magnite to $25.00 from $18.00, maintaining a Buy rating, highlighting the company’s strong performance. Similarly, Evercore ISI increased its price target to $27.25 from $19.00, citing Magnite’s solid second-quarter performance despite economic uncertainties.
Magnite’s net revenue, excluding traffic acquisition costs, reached $162 million for the quarter, marking a 10% year-over-year increase and surpassing Needham’s estimates by 3%. Additionally, Magnite announced an integration with Acxiom, making it Acxiom’s first programmatic partner for sell-side data activation. This partnership allows advertisers to activate their data directly through Magnite, aiming to reduce costs and eliminate unnecessary fees. These developments reflect the company’s strategic efforts to enhance its market position and operational efficiency.
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