Viant Technology (NASDAQ:DSP) Shares Up 4.5% – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP)’s share price was up 4.5% during trading on Wednesday . The company traded as high as $12.55 and last traded at $12.28. Approximately 91,012 shares changed hands during trading, a decline of 57% from the average daily volume of 212,361 shares. The stock had previously closed at $11.75.

Analysts Set New Price Targets

Several analysts recently issued reports on DSP shares. DA Davidson reiterated a “buy” rating and set a $15.50 target price on shares of Viant Technology in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, January 21st. B. Riley Financial reissued a “buy” rating and issued a $17.00 target price (up from $16.50) on shares of Viant Technology in a research note on Thursday, March 12th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research report on Tuesday, March 10th. Finally, Wall Street Zen upgraded shares of Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.13.

Viant Technology Trading Up 2.4%

The company has a market capitalization of $751.02 million, a P/E ratio of 37.52 and a beta of 1.05. The company has a 50 day moving average price of $10.98 and a 200 day moving average price of $10.34.

Insider Activity at Viant Technology

In other Viant Technology news, COO Christopher Vanderhook sold 3,279 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $9.17, for a total transaction of $30,068.43. Following the completion of the sale, the chief operating officer directly owned 420 shares in the company, valued at $3,851.40. This trade represents a 88.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Larry Madden sold 4,224 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $13.09, for a total value of $55,292.16. Following the sale, the chief financial officer owned 405,554 shares of the company’s stock, valued at approximately $5,308,701.86. This represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 114,202 shares of company stock worth $1,252,223. 28.80% of the stock is owned by corporate insiders.

Institutional Trading of Viant Technology

Several hedge funds have recently added to or reduced their stakes in DSP. Farther Finance Advisors LLC acquired a new position in Viant Technology in the 3rd quarter valued at $31,000. Russell Investments Group Ltd. boosted its position in shares of Viant Technology by 86.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after acquiring an additional 1,228 shares during the period. CWM LLC boosted its position in shares of Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after acquiring an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Viant Technology by 620.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after acquiring an additional 2,483 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology in the fourth quarter valued at about $64,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.