Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 492,200 shares, a drop of 21.9% from the October 15th total of 630,200 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average trading volume of 83,400 shares, the days-to-cover ratio is currently 5.9 days.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $11.23, for a total value of $31,084.64. Following the sale, the chief financial officer now owns 529,848 shares of the company’s stock, valued at $5,950,193.04. The trade was a 0.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors have recently modified their holdings of the stock. Kennedy Capital Management LLC grew its stake in shares of Viant Technology by 3.8% during the first quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock valued at $458,000 after purchasing an additional 1,562 shares during the last quarter. Rhumbline Advisers boosted its position in Viant Technology by 5.1% in the 2nd quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock valued at $419,000 after buying an additional 2,070 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after buying an additional 2,915 shares during the period. FMR LLC raised its position in shares of Viant Technology by 77.9% during 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Viant Technology during the second quarter valued at $47,000. 11.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research note on Wednesday. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $18.00 in a research note on Wednesday. Craig Hallum raised their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities upped their price target on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC increased their price objective on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

Shares of DSP opened at $15.40 on Friday. The company has a market cap of $973.28 million, a price-to-earnings ratio of 252.71 and a beta of 0.72. The stock has a fifty day moving average price of $11.45 and a two-hundred day moving average price of $10.50. Viant Technology has a 52-week low of $5.36 and a 52-week high of $16.97.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Viant Technology had a net margin of 0.47% and a negative return on equity of 5.69%. The business had revenue of $41.56 million during the quarter, compared to the consensus estimate of $41.10 million. As a group, research analysts predict that Viant Technology will post -0.37 EPS for the current fiscal year.

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.