MGNI CEO Michael Barrett Buys Shares Worth $1.04 Million
Michael Barrett, CEO of MGNI, purchased 178,596 shares, reflecting a significant investment.
Key Points
- Michael Barrett, CEO of MGNI, purchased 178,596 shares at $5.80 each, totaling about $1.04 million on June 15, 2026.
- MGNI shares traded around $18.55, with a recent analyst target of $25 from Needham, suggesting varied market perspectives.
- Institutional investors like BlackRock and Wellington Management made notable adjustments to their MGNI holdings.
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Michael Barrett, the CEO of MGNI, made a substantial purchase of company stock, acquiring 178,596 shares at a price of $5.80 each. This purchase, completed on June 15, 2026, amounted to approximately $1.04 million. The transaction wasn't part of a pre-planned trading program.
Other Institutional Activity in MGNI
BlackRock, Inc. increased its holdings in MGNI by 64,247 shares, bringing its total to 11,657,496 shares valued at about $138.5 million. Wellington Management Group also boosted its position significantly, adding 561,839 shares to hold a total of 9,191,077 shares worth approximately $109.2 million. Meanwhile, Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both reported their positions, each holding over 7.7 million and 6.1 million shares, respectively. Conversely, Capital Research Global Investors reduced its stake by 7.9 million shares, now holding 5,020,289 shares valued at $59.6 million.
Magnite, Inc. Stock Down 21.7%
Shares of MGNI traded near $18.55 recently. The company has seen some fluctuation, with a 52-week range between a low of $5.80 and a high of $19.50. As analysts weigh in, BTIG initiated coverage with a 'buy' rating and a $20 price target, while Needham reiterated a 'buy' with a target of $25.
$MGNI stock price
Daily closing prices, year to date. Not investment advice.
Insider Buying and Selling at Magnite, Inc.
Aside from Barrett's purchase, other insiders have been active. On June 16, 2026, David Buonasera, the Chief Technology Officer, sold 1,409 shares at $19 each in a planned transaction. Douglas Knopper also sold 37,337 shares at $18.10, and Barrett himself sold 100,000 shares at $17.50 under a planned sale.
Analysts Set New Price Targets
On June 9, 2026, BTIG initiated coverage on MGNI with a 'buy' rating and a price target of $20. Other firms like Wells Fargo and Scotiabank have maintained their ratings, with targets of $15 and $17, respectively. The consensus among analysts shows a positive outlook with a mean target price suggesting potential upside.
Bottom Line
Michael Barrett's recent stock purchase is a notable indicator of confidence from MGNI's leadership. The activity among institutional investors and varied analyst targets reflect a dynamic perspective on the company's value. As always, it's important to remember that insider transactions and analyst ratings are just pieces of the investment puzzle.
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