Magnite president Sean Patrick Buckley sells $373,860 in stock

In a recent filing with the Securities and Exchange Commission, Sean Patrick Buckley, President of Revenue at Magnite, Inc. (NASDAQ:MGNI), disclosed the sale of 18,693 shares of common stock. The timing is notable as Magnite’s stock has shown remarkable strength, surging 129% over the past year and currently trading near its 52-week high of $21.29. The transaction, carried out on February 7, 2025, was executed at a price of $20 per share, totaling $373,860. This sale was made under a Rule 10b5-1 trading plan that Buckley had adopted on November 24, 2023. Following the sale, Buckley retains ownership of 408,529 shares in the company. According to InvestingPro analysis, the stock is currently showing overbought signals, with 18 additional key insights available to subscribers, including detailed valuation metrics and growth forecasts.

In other recent news, Magnite Inc. has been making significant strides in its business operations. The company has confirmed a new partnership with Elon Musk’s social media platform, X, which is expected to enhance its supply-side platform offerings. This collaboration is anticipated to provide advertisers with more control over their media buys.

In addition, Magnite has seen positive analyst ratings. Benchmark analysts have maintained a Buy rating on the company, citing key developments such as partnerships with Netflix (NASDAQ:NFLX) and Disney (NYSE:DIS), and growth opportunities with Roku (NASDAQ:ROKU) and United. Evercore ISI and Needham, two other firms, have also shown confidence in Magnite by raising their stock price targets to $20.00.

Magnite has also made strategic changes to its executive team with the appointment of Sean Buckley as President, Revenue, and Katie Evans as President, Operations. Both bring extensive industry experience and are expected to drive the company’s growth and strategic initiatives. These are some of the recent developments that have been shaping Magnite’s trajectory.

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