Viant Technology Inc. (NASDAQ:DSP) Given Consensus Rating of “Buy” by Analysts

Shares of Viant Technology Inc. (NASDAQ:DSP) have earned an average recommendation of “Buy” from the eight analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.3333.

DSP has been the subject of several research analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. DA Davidson increased their price objective on shares of Viant Technology from $16.50 to $17.50 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. UBS Group lifted their target price on Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th.

Viant Technology Price Performance

Viant Technology stock opened at $12.24 on Tuesday. Viant Technology has a 1 year low of $8.11 and a 1 year high of $14.80. The firm’s 50 day moving average price is $12.19 and its 200-day moving average price is $11.35. The stock has a market cap of $813.59 million, a P/E ratio of 39.48 and a beta of 1.08.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 27,451 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Christopher Vanderhook sold 2,500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $10.96, for a total transaction of $27,400.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,304 shares of company stock valued at $1,980,706 in the last quarter. 29.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of DSP. California State Teachers Retirement System grew its stake in shares of Viant Technology by 236.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,709 shares of the company’s stock worth $34,000 after buying an additional 1,904 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of Viant Technology in the 2nd quarter worth about $1,316,000. Bank of New York Mellon Corp purchased a new stake in shares of Viant Technology during the 2nd quarter valued at about $609,000. Versant Capital Management Inc raised its position in shares of Viant Technology by 202.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after buying an additional 1,855 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock valued at $699,000 after acquiring an additional 28,052 shares during the last quarter. Institutional investors own 11.38% of the company’s stock.

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.