Viant Technology (NASDAQ:DSP) Shares Gap Down Following Analyst Downgrade

Shares of Viant Technology Inc. (NASDAQ:DSP) gapped down before the market opened on Tuesday after Raymond James lowered their price target on the stock from $30.00 to $27.00. The stock had previously closed at $19.75, but opened at $13.59. Raymond James currently has an outperform rating on the stock. Viant Technology shares last traded at $14.04, with a volume of 472,507 shares traded.

Other equities analysts have also recently issued reports about the stock. Craig Hallum upped their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, JMP Securities raised their price target on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.13.

Insider Transactions at Viant Technology

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the sale, the director now owns 63,452 shares of the company’s stock, valued at $1,301,400.52. The trade was a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total value of $330,246.08. Following the transaction, the chief financial officer now owns 344,340 shares of the company’s stock, valued at approximately $7,961,140.80. This represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,352 shares of company stock worth $1,030,720. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viant Technology

Several large investors have recently added to or reduced their stakes in DSP. Federated Hermes Inc. grew its stake in shares of Viant Technology by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 58,492 shares of the company’s stock worth $1,111,000 after acquiring an additional 465 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in Viant Technology by 83.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock valued at $30,000 after purchasing an additional 728 shares during the period. New York State Teachers Retirement System acquired a new position in Viant Technology during the 4th quarter worth $27,000. State Street Corp increased its holdings in Viant Technology by 0.6% during the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after purchasing an additional 1,722 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after purchasing an additional 2,915 shares in the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Trading Down 26.3 %

The firm has a market cap of $914.31 million, a PE ratio of 241.99 and a beta of 1.01. The firm has a 50 day moving average price of $20.74 and a 200-day moving average price of $16.20.

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.