Viant Technology Inc. (NASDAQ:DSP) Sees Large Increase in Short Interest

Viant Technology Inc. (NASDAQ:DSP) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 655,700 shares, a growth of 8.5% from the January 15th total of 604,300 shares. Based on an average trading volume of 252,400 shares, the days-to-cover ratio is presently 2.6 days. Currently, 4.6% of the shares of the stock are sold short.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the transaction, the chief financial officer now owns 344,340 shares in the company, valued at approximately $7,961,140.80. This trade represents a 3.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now owns 63,452 shares in the company, valued at $1,301,400.52. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,352 shares of company stock valued at $1,030,720. 28.80% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new position in Viant Technology in the 4th quarter valued at about $197,000. Two Sigma Advisers LP acquired a new position in Viant Technology in the 4th quarter valued at about $302,000. Nuveen Asset Management LLC grew its position in Viant Technology by 81.7% in the 4th quarter. Nuveen Asset Management LLC now owns 59,881 shares of the company’s stock valued at $1,137,000 after acquiring an additional 26,930 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new position in Viant Technology in the 4th quarter valued at about $578,000. Finally, Millennium Management LLC grew its position in Viant Technology by 784.8% in the 4th quarter. Millennium Management LLC now owns 170,987 shares of the company’s stock valued at $3,247,000 after acquiring an additional 151,662 shares in the last quarter. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

Viant Technology Trading Down 2.6 %

Shares of DSP opened at $23.07 on Tuesday. The firm has a market cap of $1.45 billion, a P/E ratio of 384.56 and a beta of 1.01. Viant Technology has a 12-month low of $7.77 and a 12-month high of $26.33. The company’s 50-day moving average price is $20.62 and its 200 day moving average price is $15.41.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JMP Securities lifted their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Canaccord Genuity Group lifted their price target on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Craig Hallum lifted their price target on 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 upgraded Viant Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, Scotiabank began coverage on Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology has a consensus rating of “Buy” and a consensus target price of $20.29.

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.