Viant Technology Inc. $DSP Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in Viant Technology Inc. (NASDAQ:DSP) by 10.5% in the 1st quarter, HoldingsChannel reports. The fund owned 441,800 shares of the company’s stock after selling 52,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Viant Technology were worth $4,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Viant Technology by 2.4% in the second quarter. Rhumbline Advisers now owns 45,042 shares of the company’s stock valued at $596,000 after purchasing an additional 1,056 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Viant Technology by 4.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock worth $359,000 after purchasing an additional 1,109 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after purchasing an additional 1,228 shares during the period. Hsbc Holdings PLC increased its position in shares of Viant Technology by 8.2% during the 4th quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock worth $332,000 after purchasing an additional 2,122 shares during the last quarter. Finally, CWM LLC increased its position in shares of Viant Technology by 431.0% during the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after purchasing an additional 2,267 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Price Performance

Shares of Viant Technology stock opened at $12.32 on Friday. The stock has a market capitalization of $807.33 million, a price-to-earnings ratio of 34.22 and a beta of 1.08. The business has a 50-day moving average of $12.03 and a 200 day moving average of $11.31. Viant Technology Inc. has a 12 month low of $8.11 and a 12 month high of $14.16.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $88.54 million for the quarter, compared to analyst estimates of $50.13 million. Viant Technology had a return on equity of 2.40% and a net margin of 2.51%. Equities research analysts anticipate that Viant Technology Inc. will post -0.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. B. Riley Financial upped their target price on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Viant Technology in a research report on Thursday, April 16th. DA Davidson boosted their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $18.00.

Insiders Place Their Bets

In other news, COO Christopher Vanderhook sold 9,125 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $11.10, for a total transaction of $101,287.50. Following the sale, the chief operating officer owned 208,880 shares of the company’s stock, valued at approximately $2,318,568. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $10.89, for a total value of $163,350.00. Following the completion of the transaction, the insider owned 22,500 shares of the company’s stock, valued at approximately $245,025. This trade represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 185,150 shares of company stock worth $2,145,427 over the last 90 days. Corporate insiders own 29.43% of the company’s stock.

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.