Viant Technology (NASDAQ:DSP) Shares Down 4.3% – Should You Sell?

Shares of Viant Technology Inc. (NASDAQ:DSP) fell 4.3% during mid-day trading on Wednesday . The company traded as low as $10.29 and last traded at $10.47. 73,386 shares were traded during trading, a decline of 66% from the average session volume of 217,812 shares. The stock had previously closed at $10.94.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DSP. Wall Street Zen downgraded Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Loop Capital set a $14.50 price target on Viant Technology in a research report on Tuesday, March 10th. B. Riley Financial upped their price target on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, DA Davidson upped their price target on Viant Technology from $16.00 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. 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 MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and an average target price of $18.00.

Viant Technology Price Performance

The company has a market capitalization of $707.62 million, a PE ratio of 31.03 and a beta of 1.00. The firm’s fifty day simple moving average is $11.04 and its 200 day simple moving average is $10.93.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The business had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. On average, equities research analysts anticipate that Viant Technology Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity

In other news, CFO Larry Madden sold 17,297 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $11.42, for a total transaction of $197,531.74. Following the sale, the chief financial officer directly owned 517,864 shares of the company’s stock, valued at $5,914,006.88. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Vanderhook sold 2,796 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total transaction of $30,029.04. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 195,798 shares of company stock valued at $2,181,451. Insiders own 29.40% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 1,228 shares in the last quarter. CWM LLC boosted its stake 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 acquiring an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Viant Technology by 620.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock worth $35,000 after acquiring an additional 2,483 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Viant Technology during the 4th quarter worth about $64,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Viant Technology by 433.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after acquiring an additional 6,454 shares in the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.