Viant Technology (NASDAQ:DSP) Shares Up 6.9% – Here’s Why

Viant Technology Inc. (NASDAQ:DSP)’s share price shot up 6.9% during trading on Thursday . The stock traded as high as $10.83 and last traded at $10.83. 39,759 shares were traded during mid-day trading, a decline of 79% from the average session volume of 188,656 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

DSP has been the subject of a number of research analyst reports. B. Riley Financial reissued a “buy” rating and issued a $16.50 price target (up from $14.50) on shares of Viant Technology in a report on Tuesday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, January 21st. DA Davidson raised their target price on shares of Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Citizens Jmp decreased their price target on shares of Viant Technology from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $18.57.

Viant Technology Price Performance

The firm has a market capitalization of $646.15 million, a PE ratio of 94.10 and a beta of 1.05. The company has a fifty day moving average of $11.05 and a 200-day moving average of $10.25.

Insider Transactions at Viant Technology

In related news, major shareholder Capital V. Llc sold 9,836 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $9.17, for a total value of $90,196.12. Following the completion of the sale, the insider owned 1,260 shares of the company’s stock, valued at approximately $11,554.20. The trade was a 88.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Larry Madden sold 4,224 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $13.09, for a total value of $55,292.16. Following the completion of the transaction, the chief financial officer owned 405,554 shares in the company, valued at $5,308,701.86. This represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,123 shares of company stock valued at $1,729,594 over the last 90 days. Company insiders own 29.40% of the company’s stock.

Institutional Trading of Viant Technology

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in Viant Technology in the third quarter worth approximately $31,000. Russell Investments Group Ltd. raised its holdings in shares of Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after purchasing an additional 1,228 shares in the last quarter. CWM LLC lifted its stake in shares of Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after purchasing an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in 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 purchasing an additional 2,483 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in Viant Technology by 287.6% in the second quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after purchasing an additional 3,443 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.