Viant Technology (NASDAQ:DSP) Sees Large Volume Increase – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP) saw unusually-strong trading volume on Thursday . Approximately 655,786 shares changed hands during trading, an increase of 242% from the previous session’s volume of 191,533 shares.The stock last traded at $15.10 and had previously closed at $15.09.

Analyst Upgrades and Downgrades

Several analysts recently commented on DSP shares. Canaccord Genuity Group boosted their price target on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Scotiabank started coverage on Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target for the company. Raymond James dropped their price target on Viant Technology from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday. JMP Securities boosted their price target on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Finally, Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $22.43.

Viant Technology Stock Performance

The company has a 50 day moving average price of $20.41 and a 200 day moving average price of $16.21. The firm has a market cap of $922.04 million, a price-to-earnings ratio of 244.54 and a beta of 1.02.

Insider Activity

In other news, CFO Larry Madden sold 14,284 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.76, for a total value of $267,967.84. Following the transaction, the chief financial officer now owns 358,624 shares of the company’s stock, valued at $6,727,786.24. This represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently bought and sold shares of DSP. Summit Global Investments lifted its stake in Viant Technology by 145.9% during the 3rd quarter. Summit Global Investments now owns 27,736 shares of the company’s stock worth $307,000 after acquiring an additional 16,457 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Viant Technology during the 3rd quarter worth about $122,000. Segall Bryant & Hamill LLC lifted its stake in Viant Technology by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after acquiring an additional 2,915 shares in the last quarter. FMR LLC lifted its stake in Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after acquiring an additional 3,123 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new position in Viant Technology during the 3rd quarter worth about $254,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

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.