Short Interest in Viant Technology Inc. (NASDAQ:DSP) Drops By 21.9%

Viant Technology Inc. (NASDAQ:DSP) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 492,200 shares, a drop of 21.9% from the October 15th total of 630,200 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 83,400 shares, the short-interest ratio is presently 5.9 days.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 2,768 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the sale, the chief financial officer now directly owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 10,419 shares of company stock valued at $116,647. Corporate insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Viant Technology by 1.9% in the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after acquiring an additional 6,803 shares during the last quarter. Barclays PLC lifted its stake in Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after buying an additional 16,784 shares during the period. State Street Corp boosted its holdings in Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after buying an additional 1,722 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Viant Technology during the 3rd quarter worth about $254,000. Finally, FMR LLC increased its stake 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 during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Stock Up 5.3 %

NASDAQ:DSP traded up $0.81 during trading hours on Friday, hitting $16.21. 274,826 shares of the stock were exchanged, compared to its average volume of 131,116. The company’s 50 day moving average is $11.67 and its two-hundred day moving average is $10.60. The company has a market capitalization of $1.02 billion, a P/E ratio of 270.21 and a beta of 0.72. Viant Technology has a twelve month low of $5.36 and a twelve month high of $16.97.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $18.00 in a research report on Wednesday. Needham & Company LLC upped their target price on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $18.00 in a research report on Wednesday. JMP Securities boosted their price objective on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Craig Hallum increased their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.86.

Viant Technology Company Profile

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.