Viant Technology (NASDAQ:DSP) Trading Up 10.3% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP)’s share price traded up 10.3% during mid-day trading on Wednesday . The stock traded as high as $16.16 and last traded at $15.57. Approximately 210,633 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 353,165 shares. The stock had previously closed at $14.12.

Wall Street Analysts Forecast Growth

DSP has been the topic of a number of recent analyst reports. JMP Securities boosted their target price on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Raymond James cut their price target on shares of Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday. Scotiabank began coverage on shares of Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price on the stock. Canaccord Genuity Group upped their price target on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.13.

Viant Technology Stock Up 10.7 %

The firm has a market capitalization of $982.44 million, a P/E ratio of 261.53 and a beta of 1.01. The business has a 50-day moving average price of $20.62 and a 200-day moving average price of $16.23.

Insider Activity

In related news, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction on Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the completion of the sale, the director now directly owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Larry Madden sold 14,284 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,068 shares of company stock worth $752,039. 28.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in Viant Technology by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 471,200 shares of the company’s stock valued at $8,948,000 after purchasing an additional 106,400 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after purchasing an additional 2,915 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock valued at $8,323,000 after purchasing an additional 341,684 shares during the period. Geode Capital Management LLC grew its position in Viant Technology by 1.9% during the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock worth $4,045,000 after buying an additional 6,803 shares in the last quarter. Finally, State Street Corp increased its position in shares of Viant Technology by 0.6% in the third quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after purchasing an additional 1,722 shares during the period. Institutional investors and hedge funds own 11.38% of the company’s stock.

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.