Magnite Director Sells Nearly $1.2 Million Worth of Shares Amid Rising Stock Price
Sarah Patricia Harden, a director at Magnite (MGNI), sold nearly 50,000 shares worth approximately $1.2 million on August 26 and 28, 2026, according to an SEC Form 4 filing. The transaction was conducted under a pre-established Rule 10b5-1 trading plan set up in May 2026, allowing insiders to execute trades without access to material non-public information. Despite the sale of nearly half her direct holdings (30% of total shares), Harden still owns over 114,751 Magnite shares. The stock closed at $23.70 on August 28, slightly above the weighted average price of $23.57 per share during the transaction. This sale occurred after a period in which the company's stock rose following strong Q2 results reported earlier that month. The move does not necessarily indicate negative sentiment toward Magnite’s future performance but reflects pre-scheduled financial planning by an insider.
Tickers: $MGNI
Topics: insider trading Rule 10b5-1 stock sales