Brokerages Set Viant Technology Inc. (NASDAQ:DSP) Price Target at $18.33

Viant Technology Inc. (NASDAQ:DSP) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $18.3333.

Several brokerages have recently issued reports on DSP. Weiss Ratings upgraded Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. Citizens Jmp raised their target price on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Tuesday, August 11th. DA Davidson lifted their price target on shares of Viant Technology from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, UBS Group boosted their price target on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th.

Viant Technology Trading Down 2.6%

DSP stock opened at $12.88 on Tuesday. The company has a market capitalization of $856.13 million, a PE ratio of 41.55 and a beta of 1.08. The business’s fifty day moving average price is $12.35 and its 200 day moving average price is $11.43. Viant Technology has a 12-month low of $8.11 and a 12-month high of $14.80.

Insider Transactions at Viant Technology

In related news, major shareholder Capital V. Llc sold 7,500 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $10.96, for a total transaction of $82,200.00. Following the completion of the transaction, the insider owned 37,500 shares in the company, valued at approximately $411,000. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 27,451 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at $5,202,725.26. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 165,304 shares of company stock valued at $1,980,706. Insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Punch & Associates Investment Management Inc. lifted its stake in Viant Technology by 16.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after purchasing an additional 190,248 shares during the last quarter. Norwood Investment Partners LP purchased a new position in Viant Technology in the fourth quarter valued at approximately $1,186,000. Globeflex Capital L P purchased a new position in Viant Technology in the second quarter valued at approximately $1,316,000. Royce & Associates LP raised its holdings in Viant Technology by 72.3% during the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in Viant Technology during the fourth quarter worth approximately $873,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.