Viant Technology (NASDAQ:DSP) Shares Down 10.7% – Should You Sell?

Viant Technology Inc. (NASDAQ:DSP)’s stock price dropped 10.7% during mid-day trading on Monday . The company traded as low as $13.29 and last traded at $13.10. Approximately 83,147 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 193,834 shares. The stock had previously closed at $14.67.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DSP. JMP Securities increased their price objective on shares of Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Viant Technology in a report on Tuesday, March 4th. Canaccord Genuity Group lifted their target price on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.43.

Viant Technology Price Performance

The company has a fifty day moving average price of $20.32 and a two-hundred day moving average price of $16.32. The company has a market capitalization of $821.54 million, a P/E ratio of 218.09 and a beta of 1.02.

Insider Activity

In related news, CFO Larry Madden sold 14,284 shares of Viant Technology stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the transaction, the chief financial officer now owns 344,340 shares of the company’s stock, valued at $7,961,140.80. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DSP. New York State Teachers Retirement System bought a new stake in Viant Technology in the fourth quarter valued at $27,000. Summit Investment Advisors Inc. increased its stake in Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after purchasing an additional 728 shares in the last quarter. FMR LLC grew its holdings in shares of Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in Viant Technology during the 4th quarter valued at about $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Viant Technology in the fourth quarter worth approximately $88,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

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.