Viant Technology (NASDAQ:DSP) Stock Price Down 8.7% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP) was down 8.7% during mid-day trading on Thursday . The company traded as low as $23.10 and last traded at $23.68. Approximately 156,026 shares were traded during trading, a decline of 37% from the average daily volume of 246,851 shares. The stock had previously closed at $25.95.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Canaccord Genuity Group upped their target price on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Scotiabank started coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target on the stock. JMP Securities lifted their target price on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology has an average rating of “Buy” and an average target price of $20.29.

Viant Technology Price Performance

The firm has a market cap of $1.45 billion, a P/E ratio of 384.56 and a beta of 1.01. The company’s 50-day moving average is $20.57 and its two-hundred day moving average is $15.28.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $19.51, for a total value of $278,680.84. Following the sale, the chief financial officer now directly owns 378,350 shares in the company, valued at approximately $7,381,608.50. This trade represents a 3.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the sale, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,856 shares of company stock valued at $1,413,963. Company insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new position in shares of Viant Technology during the fourth quarter valued at about $27,000. Ameritas Investment Partners Inc. raised its stake in Viant Technology by 83.3% during the 4th quarter. Ameritas Investment Partners Inc. now owns 1,602 shares of the company’s stock worth $30,000 after buying an additional 728 shares during the period. FMR LLC boosted its holdings in Viant Technology by 77.9% in the third quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after acquiring an additional 3,123 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Viant Technology during the fourth quarter valued at approximately $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viant Technology during the fourth quarter worth $88,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Company Profile

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.