Viant Technology (NASDAQ:DSP) Shares Down 3.2% – Time to Sell?

by · The Cerbat Gem

Viant Technology Inc. (NASDAQ:DSP – Get Free Report)’s stock price traded down 3.2% during mid-day trading on Friday . The stock traded as low as $19.02 and last traded at $19.48. 246,874 shares changed hands during trading, an increase of 77% from the average session volume of 139,605 shares. The stock had previously closed at $20.13.

Wall Street Analyst Weigh In

DSP has been the subject of several recent analyst reports. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target for the company. Needham & Company LLC lifted their target price on shares of Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group boosted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. JMP Securities raised their price target on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.75.

Read Our Latest Research Report on DSP

Viant Technology Stock Down 2.6 %

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 326.72 and a beta of 1.00. The stock’s 50 day moving average price is $15.87 and its two-hundred day moving average price is $12.32.

Insiders Place Their Bets

In other news, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the sale, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $11.23, for a total value of $31,084.64. Following the completion of the transaction, the chief financial officer now directly owns 529,848 shares of the company’s stock, valued at $5,950,193.04. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,834 shares of company stock valued at $1,941,519. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of institutional investors and hedge funds have recently made changes to their positions in DSP. Federated Hermes Inc. increased its stake in shares of Viant Technology by 5,286.9% during the second quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after purchasing an additional 66,509 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Viant Technology during the 2nd quarter worth approximately $1,387,000. Acadian Asset Management LLC raised its holdings in shares of Viant Technology by 659.4% during the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock valued at $1,403,000 after acquiring an additional 123,635 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Viant Technology in the second quarter valued at approximately $84,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Viant Technology in the second quarter valued at approximately $47,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

About Viant Technology

(Get Free Report)

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.

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