Viant Technology (NASDAQ:DSP) Stock Price Up 6.4% – What’s Next?

Viant Technology Inc. (NASDAQ:DSP) shot up 6.4% during mid-day trading on Friday . The stock traded as high as $13.49 and last traded at $13.49. 29,366 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 244,563 shares. The stock had previously closed at $12.68.

Analyst Ratings Changes

DSP has been the subject of several analyst reports. Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Citizens Jmp upped their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 11th. B. Riley Financial lifted their target price on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. DA Davidson upped their target price on Viant Technology from $16.50 to $17.50 and gave the company a “buy” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.33.

Viant Technology Price Performance

The firm has a market cap of $896.02 million, a PE ratio of 43.48 and a beta of 1.08. The business’s fifty day moving average is $12.27 and its 200-day moving average is $11.39.

Insider Activity

In other news, CFO Larry Madden sold 27,451 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares of the company’s stock, valued at $5,202,725.26. This represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Christopher Vanderhook sold 9,125 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.10, for a total transaction of $101,287.50. Following the sale, the chief operating officer owned 208,880 shares of the company’s stock, valued at approximately $2,318,568. The trade was a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 165,304 shares of company stock valued at $1,980,706 in the last three months. Company insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Viant Technology by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 45,042 shares of the company’s stock valued at $596,000 after buying an additional 1,056 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Viant Technology by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock worth $359,000 after acquiring an additional 1,109 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after acquiring an additional 1,228 shares during the last quarter. Versant Capital Management Inc raised its stake in Viant Technology by 202.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after acquiring an additional 1,855 shares during the period. Finally, California State Teachers Retirement System raised its stake in Viant Technology by 236.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,709 shares of the company’s stock valued at $34,000 after acquiring an additional 1,904 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.