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Selling Buzz: Magnite Inc [MGNI] CHIEF LEGAL OFFICER Saltz Aaron sells 4,778 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Magnite Inc shares valued at $65,220 were sold by Saltz Aaron on Jun 14 ’24. At $13.65 per share, Saltz Aaron sold 4,778 shares. The insider’s holdings dropped to 317,010 shares worth approximately $4.14 million following the completion of this transaction.

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Also, Evans Katie Seitz sold 14,541 shares, netting a total of over 200,230 in proceeds. Following the sale of shares at $13.77 each, the insider now holds 408,960 shares.

Before that, Day David had sold 21,299 shares from its account. In a trade valued at $298,399, the CHIEF FINANCIAL OFFICER traded Magnite Inc shares for $14.01 each. Upon closing the transaction, the insider’s holdings decreased to 21,299 shares, worth approximately $5.88 million.

As published in a research note from BofA Securities on May 24, 2024, Magnite Inc [MGNI] has been rated up from a Neutral to a Buy and the price target has been revised to $15 from $13. As of January 11, 2024, BofA Securities has initiated its “Neutral” rating for MGNI. Earlier on August 16, 2023, Evercore ISI upgraded its rating. Their new recommendation was “an Outperform” for MGNI stock which previously was a “an In-line”.

Analyzing MGNI Stock Performance

During the last five days, there has been a drop of approximately -5.70%. Over the course of the year, Magnite Inc shares have jumped approximately 39.94%. Shares of the company reached a 52-week high of $14.02 on 06/12/24 and a 52-week low of $8.38 on 04/22/24. A 50-day SMA is recorded $10.80, while a 200-day SMA reached $9.33. Nevertheless, trading volume fell to 1.2 million shares from 1.32 million shares the previous day.

Support And Resistance Levels for Magnite Inc (MGNI)

According to the 24-hour chart, there is a support level at 12.82, which, if violated, would cause prices to drop to 12.58. In the upper region, resistance lies at 13.41. The next price resistance is at 13.75. RSI (Relative Strength Index) is 57.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 51.35%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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