Magnite Director Sells Nearly $1.2 Million Worth of Shares Amid Rising Stock Price
Sarah Patricia Harden, a director at Magnite (NASDAQ: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 Rule 10b5-1 trading plan established in May 2026, allowing insiders to execute trades without access to material non-public information. Despite the sale, Harden still holds over 114,751 shares directly, representing an ownership stake of approximately 0.08%. The stock closed at $23.70 on August 28, slightly above the weighted average price of $23.57 per share during the transaction period. The sale occurred after Magnite reported strong second-quarter results in early August and as its shares approached a 52-week high. While insider selling can sometimes raise concerns among investors, this particular trade was pre-scheduled and not discretionary.
Tickers: $MGNI
Topics: director activity SEC filings stock sales