Viant Technology Inc. (NASDAQ:DSP) Short Interest Up 7.1% in December

Viant Technology Inc. (NASDAQ:DSP) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 465,200 shares, an increase of 7.1% from the November 30th total of 434,400 shares. Based on an average daily trading volume, of 173,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.2% of the company’s stock are short sold.

Insider Activity at Viant Technology

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the sale, the director now owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Larry Madden sold 67,243 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.19, for a total value of $1,021,421.17. Following the sale, the chief financial officer now owns 461,107 shares of the company’s stock, valued at approximately $7,004,215.33. This trade represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,750 shares of company stock valued at $1,907,441. 28.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Viant Technology by 5,286.9% during the second quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after buying an additional 66,509 shares in the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Viant Technology during the 2nd quarter valued at about $1,387,000. Acadian Asset Management LLC increased its stake in Viant Technology by 659.4% in the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after acquiring an additional 123,635 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Viant Technology in the second quarter valued at about $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Viant Technology in the second quarter worth about $47,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Stock Down 0.4 %

NASDAQ DSP traded down $0.08 during midday trading on Thursday, hitting $18.91. The company had a trading volume of 78,510 shares, compared to its average volume of 140,742. The firm has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $12.93. Viant Technology has a fifty-two week low of $6.39 and a fifty-two week high of $21.74. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 315.22 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DSP. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Craig Hallum upped their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Needham & Company LLC upped their price target on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on Viant Technology in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.75.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.