Viant Technology Inc. (NASDAQ:DSP) Sees Large Drop in Short Interest
by Amy Steele · The Cerbat GemViant Technology Inc. (NASDAQ:DSP – Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 932,620 shares, a decline of 16.7% from the March 31st total of 1,119,593 shares. Based on an average daily volume of 181,353 shares, the short-interest ratio is currently 5.1 days. Currently, 2.1% of the shares of the company are short sold.
Insider Buying and Selling at Viant Technology
In related news, CFO Larry Madden sold 13,283 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $10.91, for a total value of $144,917.53. Following the transaction, the chief financial officer directly owned 579,744 shares in the company, valued at approximately $6,325,007.04. This represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total transaction of $177,000.00. Following the completion of the transaction, the insider owned 23,760 shares in the company, valued at $280,368. This trade represents a 38.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 178,283 shares of company stock worth $1,883,485. Corporate insiders own 29.40% of the company’s stock.
Institutional Investors Weigh In On Viant Technology
Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new position in shares of Viant Technology in the third quarter worth about $31,000. Russell Investments Group Ltd. lifted its holdings in shares of Viant Technology by 86.9% in the fourth 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 during the last quarter. CWM LLC lifted its holdings in shares of Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after acquiring an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Viant Technology by 620.8% in the fourth 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 during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Viant Technology in the fourth quarter worth about $64,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.
Viant Technology Trading Up 4.8%
Viant Technology stock traded up $0.52 during trading hours on Friday, reaching $11.38. 148,432 shares of the stock were exchanged, compared to its average volume of 185,034. The company has a market cap of $720.92 million, a P/E ratio of 35.56 and a beta of 1.00. Viant Technology has a twelve month low of $8.11 and a twelve month high of $16.25. The stock has a 50 day moving average of $10.75 and a two-hundred day moving average of $10.69.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. DA Davidson upped their price target on shares of Viant Technology from $15.50 to $16.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Loop Capital set a $14.50 price target on shares of Viant Technology in a research note on Tuesday, March 10th. Freedom Capital upgraded shares of Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and an average price target of $17.79.
View Our Latest Analysis on Viant Technology
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.