David Buonasera Sells Shares of Magnite, Inc.
David Buonasera, CTO of Magnite, sold 11,233 shares worth $202,194 on June 16, 2026.
Key Points
- David Buonasera, CTO of Magnite, sold 11,233 shares on June 16, 2026, at an average price of $18.00, totaling $202,194.
- Magnite, Inc. (NasdaqGS: MGNI) has a market cap of $2.63 billion and a P/E ratio of 17.37, with shares trading near $18.55.
- Analysts have set a mean price target of $22.07 for Magnite, with a consensus rating of 'strong buy' from 15 analysts.
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David Buonasera, the Chief Technology Officer at Magnite, Inc., sold 11,233 shares of the company on June 16, 2026. The shares were sold at an average price of $18.00 each, amounting to a total of $202,194. This transaction was part of a planned sale.
Insider Buying and Selling at Magnite, Inc.
Several insiders at Magnite have been active in trading the company's stock. On June 16, 2026, CEO Michael Barrett sold 100,000 shares at $17.50 each, and CTO David Buonasera sold 11,233 shares at $18.00. Moreover, Douglas Knopper sold 37,337 shares at $18.10. These transactions were planned sales.
Other Institutional Activity in Magnite
Institutional investors have also been making moves in Magnite. BlackRock, Inc. increased its holdings by 64,247 shares, bringing its total to 11,657,496 shares valued at approximately $138.49 million. Wellington Management Group LLP added 561,839 shares, resulting in a total of 9,191,077 shares worth about $109.19 million. On the other hand, Capital Research Global Investors reduced its stake by 7,900,000 shares, leaving it with 5,020,289 shares valued at $59.64 million.
Magnite, Inc. Stock Down 23.0%
Shares of Magnite, Inc. (NasdaqGS: MGNI) are currently trading around $18.55. The company has a market capitalization of $2.63 billion, with a price-to-earnings ratio of 17.37 and a forward P/E of 14.76. Magnite's beta is 2.308, indicating higher volatility compared to the market. The stock's 52-week range is between $10.82 and $26.65, with a 50-day moving average of $13.89 and a 200-day moving average of $15.62.
$MGNI stock price
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Analysts Set New Price Targets
On June 9, 2026, BTIG initiated coverage of Magnite with a 'buy' rating and a $20.00 price target. Other firms like Scotiabank and RBC Capital maintained their 'buy' ratings with price targets of $17.00 and $20.00, respectively. The consensus among 15 analysts is a 'strong buy', with a mean target price of $22.07.
About Magnite, Inc.
Magnite, Inc. operates an independent omni-channel sell-side advertising platform. It provides tools for digital advertising inventory sellers, such as publishers of CTV channels and digital media properties, to manage and monetize their inventory. The company also offers a marketplace for buyers like advertisers and agencies. Magnite is headquartered in New York, NY, and led by CEO Michael G. Barrett. It employs about 971 people.
Bottom Line
David Buonasera's planned stock sale is part of routine insider trading activity at Magnite. Investors often track these moves to gauge insider confidence in the company. Magnite's stock remains a topic of interest, with a strong buy rating from analysts. However, it's important to remember that insider transactions and analyst ratings are just pieces of the broader investment puzzle.
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