The sale, executed at $23.46 per share, was part of a Rule 10b5-1 plan and leaves the executive with 260,836 shares.
Magnite Inc. Chief Technology Officer David Buonasera sold 7,649 shares of common stock on August 6, according to an SEC filing. The transaction was valued at $23.46 per share, based on the weighted average sale price, while the stock closed at $24.32 that day.
The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which allows insiders to sell shares on a predetermined schedule without regard to material non-public information. Buonasera retains a direct stake of 260,836 shares, representing approximately 0.2% ownership in the company.
Magnite’s stock has risen 8% over the trailing 12-month period, with the company holding a market capitalization of $3.5 billion and trailing twelve-month revenue of $742.0 million.