Viant Technology (NASDAQ:DSP) Trading Down 5.5% – Here’s Why

Viant Technology Inc. (NASDAQ:DSP) shares traded down 5.5% during trading on Friday . The company traded as low as $19.05 and last traded at $19.13. 75,907 shares were traded during mid-day trading, a decline of 46% from the average session volume of 140,226 shares. The stock had previously closed at $20.25.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DSP shares. Needham & Company LLC boosted their target price on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities upped their target price on shares of Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target for the company. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, Craig Hallum lifted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $17.75.

Viant Technology Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 318.89 and a beta of 1.00. The business has a 50-day simple moving average of $16.70 and a two-hundred day simple moving average of $12.69.

Insiders Place Their Bets

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the transaction, the director now owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Larry Madden sold 67,243 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $15.19, for a total value of $1,021,421.17. Following the completion of the sale, the chief financial officer now owns 461,107 shares in the company, valued at $7,004,215.33. This represents a 12.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,750 shares of company stock valued at $1,907,441 in the last three months. 28.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Viant Technology in the second quarter valued at about $47,000. FMR LLC grew its stake in Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Viant Technology in the 2nd quarter valued at about $84,000. Mackenzie Financial Corp acquired a new stake in Viant Technology during the second quarter worth approximately $112,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Viant Technology during the third quarter worth approximately $122,000. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

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.