Magnite director Sarah Harden sells $1.15m in company stock

Sarah Patricia Harden, a Magnite director, recently divested $1.15 million worth of company stock in late August 2026. The transactions, spread across two days, involved 48,986 shares. Each sale occurred within a narrow price range of $23.09 to $24.00 per share. Harden's trading plan, established on May 27, 2026, governed these moves.

On August 26, she divested 30,550 shares at an average price of $23.31, while 18,436 shares were sold on August 28 at $24 each. The insider sell-off coincides with Magnite's impressive stock performance, soaring 74% over six months and 46% year-to-date. Trading at $23.70 with a $3.35 billion market cap, the stock seems slightly undervalued.

Magnite recently reported strong Q2 earnings, exceeding expectations, and raised its full-year outlook. Analysts at Scotiabank also increased their price target for Magnite shares from $17 to $27, highlighting the company's robust growth in CTV, EBITDA, and free cash flow.