Insider Selling: Viant Technology (NASDAQ:DSP) Director Sells $40,530.42 in Stock

Viant Technology Inc. (NASDAQ:DSP) Director Max Valdes sold 3,386 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $11.97, for a total transaction of $40,530.42. Following the transaction, the director directly owned 29,449 shares of the company’s stock, valued at $352,504.53. This trade represents a 10.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Viant Technology Stock Down 0.5%

DSP opened at $11.10 on Friday. The firm has a 50-day simple moving average of $11.21 and a two-hundred day simple moving average of $11.20. Viant Technology Inc. has a 52 week low of $8.11 and a 52 week high of $15.18. The company has a market capitalization of $727.38 million, a PE ratio of 30.83 and a beta of 1.04.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The company had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. As a group, sell-side analysts expect that Viant Technology Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSP. Royal Bank of Canada raised its position in Viant Technology by 246.4% in the 1st quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock worth $363,000 after purchasing an additional 20,779 shares during the period. AQR Capital Management LLC raised its position in Viant Technology by 303.6% in the 1st quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock worth $587,000 after purchasing an additional 35,578 shares during the period. Goldman Sachs Group Inc. raised its position in Viant Technology by 77.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock worth $1,691,000 after purchasing an additional 59,323 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Viant Technology in the 2nd quarter worth about $166,000. Finally, Geode Capital Management LLC raised its position in Viant Technology by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after purchasing an additional 22,857 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. DA Davidson increased their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. B. Riley Financial increased their price target on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $18.00.

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.