Viant Technology Inc. (NASDAQ:DSP – Get 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.
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
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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