Viant Technology (NASDAQ:DSP) Trading 8.8% Higher – Here’s What Happened

Shares of Viant Technology Inc. (NASDAQ:DSP) traded up 8.8% during trading on Monday . The stock traded as high as $12.90 and last traded at $12.8250. 211,929 shares traded hands during trading, a decline of 12% from the average session volume of 240,582 shares. The stock had previously closed at $11.79.

Analyst Ratings Changes

DSP has been the topic of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Viant Technology in a research report on Thursday, April 16th. DA Davidson lifted their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Finally, Freedom Capital upgraded Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Viant Technology has a consensus rating of “Buy” and a consensus price target of $18.00.

Viant Technology Stock Performance

The stock’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $11.22. The firm has a market cap of $861.72 million, a P/E ratio of 36.36 and a beta of 1.04.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. As a group, analysts forecast that Viant Technology Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 25,376 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.10, for a total value of $281,673.60. Following the transaction, the chief financial officer owned 459,155 shares in the company, valued at $5,096,620.50. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Capital V. Llc sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $11.12, for a total value of $166,800.00. Following the completion of the transaction, the insider owned 22,500 shares in the company, valued at $250,200. This represents a 40.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 266,980 shares of company stock valued at $2,992,826 in the last quarter. Company insiders own 29.43% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors and hedge funds have recently bought and sold shares of DSP. Punch & Associates Investment Management Inc. lifted its stake in Viant Technology by 16.4% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Viant Technology by 72.3% in the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after purchasing an additional 382,664 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Viant Technology by 2.6% during the fourth quarter. Renaissance Technologies LLC now owns 493,800 shares of the company’s stock valued at $5,945,000 after purchasing an additional 12,683 shares in the last quarter. Millennium Management LLC lifted its position in shares of Viant Technology by 91.2% during the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock valued at $5,177,000 after purchasing an additional 205,160 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Viant Technology by 6.4% during the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after purchasing an additional 22,857 shares during the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.