Viant Technology (NASDAQ:DSP) Major Shareholder Capital Llc Sells 7,500 Shares of Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $11.79, for a total transaction of $88,425.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Viant Technology Trading Down 1.3%

Shares of DSP stock opened at $11.76 on Friday. Viant Technology Inc. has a 1-year low of $8.11 and a 1-year high of $26.33. The company has a market capitalization of $734.18 million, a price-to-earnings ratio of 106.92 and a beta of 1.05. The stock’s fifty day simple moving average is $9.97 and its 200-day simple moving average is $11.03.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). Viant Technology had a negative return on equity of 5.00% and a net margin of 0.57%.The company had revenue of $85.58 million during the quarter, compared to analyst estimates of $85.54 million. On average, sell-side analysts predict that Viant Technology Inc. will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DSP. Tudor Investment Corp ET AL boosted its stake in shares of Viant Technology by 39.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 191,636 shares of the company’s stock valued at $1,654,000 after purchasing an additional 54,507 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Viant Technology by 40.7% during the third quarter. Verition Fund Management LLC now owns 51,723 shares of the company’s stock worth $446,000 after buying an additional 14,963 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Viant Technology in the third quarter valued at approximately $153,000. Qube Research & Technologies Ltd acquired a new position in shares of Viant Technology in the 3rd quarter worth approximately $493,000. Finally, Punch & Associates Investment Management Inc. grew its position in Viant Technology by 3.8% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 1,199,490 shares of the company’s stock worth $10,352,000 after acquiring an additional 44,357 shares during the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $16.50 price objective (up from $14.50) on shares of Viant Technology in a research report on Tuesday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Tuesday, November 11th. Citigroup reissued a “market outperform” rating on shares of Viant Technology in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, October 8th. Finally, Citizens Jmp decreased their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Viant Technology has a consensus rating of “Buy” and an average target price of $18.50.

Key Viant Technology News

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

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.