Viant Technology (NASDAQ:DSP) Stock Price Down 3.2% – Here’s Why

Viant Technology Inc. (NASDAQ:DSP) shares dropped 3.2% during trading on Friday . The company traded as low as $19.02 and last traded at $19.48. Approximately 246,874 shares traded hands during mid-day trading, an increase of 77% from the average daily volume of 139,605 shares. The stock had previously closed at $20.13.

Analyst Ratings Changes

DSP has been the topic of a number of recent research reports. Needham & Company LLC upped their target price on shares of Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Scotiabank initiated coverage on Viant Technology in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price target on the stock. Canaccord Genuity Group raised their price objective on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Craig Hallum boosted their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $17.75.

Viant Technology Stock Down 2.6 %

The business’s fifty day moving average is $15.87 and its 200-day moving average is $12.32. The company has a market cap of $1.23 billion, a PE ratio of 326.72 and a beta of 1.00.

Insider Activity

In related news, CFO Larry Madden sold 67,243 shares of Viant Technology stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.19, for a total value of $1,021,421.17. Following the completion of the transaction, the chief financial officer now owns 461,107 shares in the company, valued at approximately $7,004,215.33. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the transaction, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 120,834 shares of company stock worth $1,941,519 over the last quarter. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Viant Technology in the second quarter valued at about $47,000. FMR LLC grew its position in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after buying an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Viant Technology during the 2nd quarter worth approximately $84,000. Victory Capital Management Inc. purchased a new stake in Viant Technology during the third quarter valued at approximately $122,000. Finally, Mackenzie Financial Corp acquired a new stake in Viant Technology in the second quarter valued at approximately $112,000. 11.38% of the stock is currently owned by institutional investors.

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.