Magnite chief accounting officer Gephart sells $307k in shares

Brian Gephart, Magnite Inc.'s Chief Accounting Officer, sold 12,479 shares of the company's common stock on August 10, 2026. The transaction valued at approximately $307,981 was executed at prices ranging from $24.68 to $24.71 per share, with a weighted average price of $24.68. This sale occurred as Magnite shares traded near their 52-week high of $26.65, having surged 111% over the past six months.

Currently, Magnite shares are priced at $24.73. As a result of this sale, Gephart now holds 106,117 shares of Magnite common stock directly. Magnite Inc. surpassed analysts' expectations for its Q2 2026 earnings and revenue, reporting non-GAAP earnings of $0.26 per share and revenue of $192.8 million. Following this positive performance, Magnite raised its full-year outlook.

In response to these developments, Scotiabank raised its price target for Magnite shares from $17 to $27, maintaining a Sector Outperform rating. The company's strong performance in areas such as EBITDA, margin, and free cash flow has contributed to this favorable outlook among investors and analysts.