AQR Capital Management LLC Takes Position in Viant Technology Inc. (NASDAQ:DSP)

AQR Capital Management LLC purchased a new stake in shares of Viant Technology Inc. (NASDAQ:DSP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,865 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its stake in Viant Technology by 3.8% in the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock valued at $458,000 after buying an additional 1,562 shares during the period. GSA Capital Partners LLP raised its position in shares of Viant Technology by 4.4% in the 1st quarter. GSA Capital Partners LLP now owns 40,430 shares of the company’s stock valued at $431,000 after acquiring an additional 1,699 shares during the period. Rhumbline Advisers boosted its stake in Viant Technology by 5.1% during the 2nd quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock worth $419,000 after acquiring an additional 2,070 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Viant Technology during the second quarter valued at approximately $47,000. Finally, Bank of New York Mellon Corp increased its stake in Viant Technology by 14.8% in the second quarter. Bank of New York Mellon Corp now owns 43,571 shares of the company’s stock valued at $430,000 after purchasing an additional 5,601 shares in the last quarter. Institutional investors own 11.38% of the company’s stock.

Viant Technology Price Performance

Shares of DSP stock opened at $11.90 on Friday. The company has a fifty day moving average price of $10.77 and a two-hundred day moving average price of $10.12. Viant Technology Inc. has a one year low of $4.98 and a one year high of $12.36. The stock has a market cap of $755.59 million, a P/E ratio of -99.17 and a beta of 0.74.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, August 12th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Viant Technology had a negative return on equity of 7.39% and a negative net margin of 0.33%. The business had revenue of $41.56 million for the quarter, compared to analyst estimates of $41.10 million. As a group, equities research analysts anticipate that Viant Technology Inc. will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now directly owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 8,921 shares of company stock worth $99,315 in the last 90 days. Company insiders own 28.80% of the company’s stock.

Analyst Ratings Changes

DSP has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Viant Technology in a research report on Tuesday, August 13th. Canaccord Genuity Group reiterated a “hold” rating and issued a $11.00 price target on shares of Viant Technology in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Viant Technology presently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

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.