Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume After Analyst Upgrade

Viant Technology Inc. (NASDAQ:DSP) shares saw unusually-high trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $12.00 to $18.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 76,110 shares were traded during mid-day trading, a decline of 38% from the previous session’s volume of 122,610 shares.The stock last traded at $15.40 and had previously closed at $16.46.

DSP has been the topic of a number of other reports. Craig Hallum upped 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. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $13.00 to $18.00 in a research report on Wednesday. Finally, JMP Securities upped their target price on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology has a consensus rating of “Buy” and an average price target of $15.86.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 2,768 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the transaction, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. This represents a 0.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Viant Technology in the 2nd quarter valued at about $47,000. FMR LLC raised its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Viant Technology in the 2nd quarter valued at about $84,000. Victory Capital Management Inc. purchased a new stake in shares of Viant Technology in the 3rd quarter valued at about $122,000. Finally, Summit Global Investments purchased a new stake in shares of Viant Technology in the 2nd quarter valued at about $111,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Trading Up 5.3 %

The firm has a fifty day simple moving average of $11.55 and a two-hundred day simple moving average of $10.53. The stock has a market cap of $1.02 billion, a PE ratio of 262.00 and a beta of 0.72.

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.