Viant Technology (NASDAQ:DSP) Major Shareholder Sells $82,200.00 in Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 7,500 shares of Viant Technology stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $10.96, for a total transaction of $82,200.00. Following the completion of the sale, the insider owned 37,500 shares of the company’s stock, valued at approximately $411,000. This trade represents a 16.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Viant Technology Trading Up 2.5%

NASDAQ DSP traded up $0.27 during trading hours on Thursday, reaching $11.24. 447,222 shares of the company traded hands, compared to its average volume of 300,733. Viant Technology Inc. has a 12 month low of $8.11 and a 12 month high of $15.18. The stock has a market capitalization of $736.56 million, a PE ratio of 31.22 and a beta of 1.04. The company has a 50 day moving average of $11.22 and a two-hundred day moving average of $11.22.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a return on equity of 2.40% and a net margin of 2.51%. On average, equities research analysts anticipate that Viant Technology Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on DSP shares. B. Riley Financial upped their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Freedom Capital upgraded Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Viant Technology in a research report on Thursday, April 16th. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $18.00.

Institutional Trading of Viant Technology

Large investors have recently added to or reduced their stakes in the business. Royce & Associates LP increased its holdings in shares of Viant Technology by 72.3% during the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after purchasing an additional 382,664 shares during the period. Topline Capital Management LLC bought a new stake in shares of Viant Technology during the 3rd quarter worth about $2,150,000. Invenomic Capital Management LP bought a new stake in shares of Viant Technology during the 4th quarter worth about $2,748,000. Millennium Management LLC lifted its stake in shares of Viant Technology by 91.2% in the 4th quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock worth $5,177,000 after acquiring an additional 205,160 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its holdings in shares of Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

About Viant Technology

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.