Viant Technology (NASDAQ:DSP) Trading 6.6% Higher – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP) shares shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $25.82 and last traded at $25.65. 265,633 shares were traded during mid-day trading, an increase of 8% from the average session volume of 244,941 shares. The stock had previously closed at $24.05.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Craig Hallum lifted their price objective on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC lifted their price target on Viant Technology from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Scotiabank initiated coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price objective for the company. JMP Securities lifted their target price 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. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology currently has a consensus rating of “Buy” and an average price target of $20.29.

Viant Technology Price Performance

The firm has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $15.07. The firm has a market capitalization of $1.63 billion, a PE ratio of 432.49 and a beta of 1.01.

Insider Activity at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction dated 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 directly owns 344,340 shares in the company, valued at $7,961,140.80. The trade was a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology 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 sale, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,099 shares of company stock worth $2,435,384. Corporate insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently added to or reduced their stakes in DSP. Segall Bryant & Hamill LLC lifted its holdings in shares of 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 acquiring an additional 2,915 shares during the last quarter. JPMorgan Chase & Co. raised its position in Viant Technology by 353.7% during the fourth quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock valued at $8,323,000 after purchasing an additional 341,684 shares during the period. Geode Capital Management LLC lifted its stake in shares of Viant Technology by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after purchasing an additional 6,803 shares during the last quarter. State Street Corp boosted its holdings in shares of Viant Technology by 0.6% in 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, Arrowstreet Capital Limited Partnership increased its position in shares of Viant Technology by 189.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock valued at $4,961,000 after purchasing an additional 171,047 shares during the last quarter. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.