Viant Technology (NASDAQ:DSP) Trading Down 4.1% After Analyst Downgrade

Viant Technology Inc. (NASDAQ:DSP)’s stock price was down 4.1% during mid-day trading on Friday after Raymond James lowered their price target on the stock from $27.00 to $18.00. Raymond James currently has an outperform rating on the stock. Viant Technology traded as low as $12.53 and last traded at $12.72. Approximately 226,886 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 223,408 shares. The stock had previously closed at $13.26.

A number of other analysts also recently commented on DSP. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of Viant Technology in a research note on Wednesday, April 2nd. JMP Securities upped their price objective on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology has an average rating of “Buy” and a consensus target price of $21.14.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the sale, the chief financial officer now owns 344,340 shares of the company’s stock, valued at $7,961,140.80. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in shares of Viant Technology in the fourth quarter valued at approximately $27,000. Summit Investment Advisors Inc. lifted its holdings in Viant Technology by 83.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after purchasing an additional 728 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Viant Technology during the fourth quarter worth $80,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Viant Technology during the fourth quarter worth $88,000. Finally, FMR LLC raised its position in shares of Viant Technology by 77.9% in the third 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. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Viant Technology Price Performance

The stock has a market capitalization of $813.34 million, a PE ratio of 213.87 and a beta of 1.21. The company’s 50 day moving average price is $16.80 and its two-hundred day moving average price is $16.61.

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.