Viant Technology (NASDAQ:DSP) Shares Down 4.7% Following Insider Selling

Viant Technology Inc. (NASDAQ:DSPGet Free Report) shares fell 4.7% on Tuesday following insider selling activity. The company traded as low as $13.68 and last traded at $13.50. 60,104 shares were traded during trading, a decline of 74% from the average session volume of 234,588 shares. The stock had previously closed at $14.17.

Specifically, Director Max O. Valdes sold 4,838 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $14.29, for a total transaction of $69,135.02. Following the sale, the director now directly owns 21,591 shares in the company, valued at $308,535.39. This represents a 18.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max O. Valdes sold 5,062 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $13.87, for a total transaction of $70,209.94. Following the completion of the transaction, the director now directly owns 26,429 shares of the company’s stock, valued at $366,570.23. This represents a 16.07% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Viant Technology in a research report on Wednesday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $21.00 price target on shares of Viant Technology in a research report on Wednesday, April 2nd. Finally, Raymond James reduced their target price on Viant Technology from $27.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $21.00.

Check Out Our Latest Analysis on DSP

Viant Technology Stock Performance

The firm has a market cap of $855.29 million, a PE ratio of 227.87 and a beta of 1.14. The stock’s fifty day moving average price is $13.82 and its 200-day moving average price is $17.00.

Institutional Investors Weigh In On Viant Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Punch & Associates Investment Management Inc. increased its stake in Viant Technology by 37.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company’s stock valued at $12,283,000 after purchasing an additional 267,326 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Viant Technology by 29.2% in the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company’s stock valued at $8,948,000 after buying an additional 106,400 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Viant Technology by 353.7% during the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after buying an additional 341,684 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Viant Technology in the 1st quarter worth about $4,023,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Viant Technology in the 1st quarter valued at about $3,867,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Viant Technology Company Profile

(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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