Magnite Inc (MGNI, Financial), a prominent player in the advertising technology sector, recently witnessed a significant transaction by one of its top executives. Aaron Saltz, the Chief Legal Officer, sold 5,112 shares of the company on November 7, 2024. The transaction was filed with the SEC and can be viewed in detail here.
Following this sale, the insider now owns 307,745 shares of Magnite Inc (MGNI, Financial). The shares were sold at a price of $13.5 each, on the day of the transaction. This sale is part of a broader trend observed over the past year, where Aaron Saltz has sold a total of 9,890 shares and has not purchased any shares.
Magnite Inc (MGNI, Financial) specializes in providing a technology platform for advertising. The company's platform helps publishers manage their advertising revenue and enables advertisers to reach audiences across various devices and formats.
The broader insider transaction history for Magnite Inc (MGNI, Financial) shows a pattern of more sales than purchases among insiders. Over the past year, there have been 24 insider sales and no insider buys. This could be indicative of insiders' sentiment about the stock's current valuation and future prospects.
On the valuation front, Magnite Inc (MGNI, Financial) has a market cap of approximately $1.91 billion. The stock's price on the day of Aaron Saltz's recent sale was $13.5, which aligns with a GF Value of $11.86. This results in a price-to-GF-Value ratio of 1.14, suggesting that the stock is modestly overvalued.
The GF Value is calculated considering historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on the company’s past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale event and the current valuation metrics provide investors with critical data points to consider when evaluating their investment in Magnite Inc (MGNI, Financial).
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.
