Larry Madden Sells 13,477 Shares of Viant Technology (NASDAQ:DSP) Stock

Viant Technology Inc. (NASDAQ:DSP) CFO Larry Madden sold 13,477 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $11.70, for a total transaction of $157,680.90. Following the transaction, the chief financial officer directly owned 409,778 shares of the company’s stock, valued at $4,794,402.60. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Viant Technology Stock Down 1.3%

Shares of DSP opened at $11.76 on Friday. The stock’s 50-day moving average price is $9.97 and its 200 day moving average price is $11.03. The firm has a market capitalization of $734.18 million, a price-to-earnings ratio of 106.92 and a beta of 1.05. Viant Technology Inc. has a 12-month low of $8.11 and a 12-month high of $26.33.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $85.58 million for the quarter, compared to analyst estimates of $85.54 million. Viant Technology had a negative return on equity of 5.00% and a net margin of 0.57%. Equities research analysts expect that Viant Technology Inc. will post -0.39 EPS for the current year.

Key Stores Impacting Viant Technology

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Strategic partnership: Viant announced a strategic integration with iHeartMedia to enable addressable audio at scale — this expands Viant’s addressable inventory and advertiser reach in audio and podcasting, a tangible commercial growth opportunity. iHeartMedia and Viant Partner
• Positive Sentiment: Analyst backdrop: Brokerages maintain a buy consensus and several price-target upgrades/affirmations, supporting upside expectations versus the current quote. That institutional sentiment can cushion downside and attract buyers. Analyst Consensus: Buy
• Neutral Sentiment: Valuation and technicals: DSP still trades with a high trailing P/E and has recently been around its 50- and 200-day moving averages; the combination of stretched valuation and mixed fundamentals means traders may react strongly to incremental news. Market Data & Profile
• Negative Sentiment: Insider and major-holder selling: Multiple insiders disclosed sales on Dec. 17 — CFO Larry Madden sold 13,477 shares (~$157.7K at ~$11.70), the COO sold several tranches, and major shareholder Capital V LLC sold 15,000 shares (reported as a ~40% stake reduction in that filing). Large or clustered insider/holder sales can be read as a near-term negative catalyst and may increase selling pressure. Insider Selling Details

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC bought a new stake in Viant Technology during the 3rd quarter worth approximately $31,000. AlphaQuest LLC boosted its stake in Viant Technology by 287.6% in the second quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after purchasing an additional 3,443 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Viant Technology in the second quarter worth $75,000. BNP Paribas Financial Markets grew its holdings in shares of Viant Technology by 433.7% during the third quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after purchasing an additional 6,454 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Viant Technology in the second quarter valued at $150,000. Institutional investors own 11.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. B. Riley reiterated a “buy” rating and set a $16.50 target price (up from $14.50) on shares of Viant Technology in a research report on Tuesday, November 11th. Citigroup restated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, November 11th. Citizens Jmp lowered their price objective on Viant Technology from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Tuesday, November 11th. DA Davidson raised their target price on Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $18.50.

Viant Technology Company Profile

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.