Viant Technology (NASDAQ:DSP) COO Christopher Vanderhook Sells 2,500 Shares

Viant Technology Inc. (NASDAQ:DSP) COO Christopher Vanderhook sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $11.79, for a total transaction of $29,475.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Vanderhook also recently made the following trade(s):

• On Wednesday, December 17th, Christopher Vanderhook sold 5,000 shares of Viant Technology stock. The shares were sold at an average price of $11.74, for a total value of $58,700.00.
• On Wednesday, December 17th, Christopher Vanderhook sold 9,102 shares of Viant Technology stock. The shares were sold at an average price of $11.70, for a total value of $106,493.40.

Viant Technology Stock Down 1.3%

DSP stock opened at $11.76 on Friday. Viant Technology Inc. has a twelve month low of $8.11 and a twelve month high of $26.33. The company has a market cap of $734.18 million, a P/E ratio of 106.92 and a beta of 1.05. The business has a fifty day moving average of $9.97 and a 200-day moving average of $11.03.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). The firm had revenue of $85.58 million during the quarter, compared to the consensus estimate of $85.54 million. Viant Technology had a net margin of 0.57% and a negative return on equity of 5.00%. As a group, equities research analysts anticipate that Viant Technology Inc. will post -0.39 earnings per share for the current fiscal year.

Viant Technology News Roundup

Here are the key news stories impacting Viant Technology this week:

• Positive Sentiment: Strategic partnership: Viant announced a strategic integration with iHeartMedia to enable addressable audio at scale — this expands Viant’s addressable inventory and advertiser reach in audio and podcasting, a tangible commercial growth opportunity. iHeartMedia and Viant Partner
• Positive Sentiment: Analyst backdrop: Brokerages maintain a buy consensus and several price-target upgrades/affirmations, supporting upside expectations versus the current quote. That institutional sentiment can cushion downside and attract buyers. Analyst Consensus: Buy
• Neutral Sentiment: Valuation and technicals: DSP still trades with a high trailing P/E and has recently been around its 50- and 200-day moving averages; the combination of stretched valuation and mixed fundamentals means traders may react strongly to incremental news. Market Data & Profile
• Negative Sentiment: Insider and major-holder selling: Multiple insiders disclosed sales on Dec. 17 — CFO Larry Madden sold 13,477 shares (~$157.7K at ~$11.70), the COO sold several tranches, and major shareholder Capital V LLC sold 15,000 shares (reported as a ~40% stake reduction in that filing). Large or clustered insider/holder sales can be read as a near-term negative catalyst and may increase selling pressure. Insider Selling Details

Hedge Funds Weigh In On Viant Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in DSP. Fort Washington Investment Advisors Inc. OH bought a new position in Viant Technology during the second quarter worth about $8,443,000. Cubist Systematic Strategies LLC raised its position in shares of Viant Technology by 77.8% during the first quarter. Cubist Systematic Strategies LLC now owns 92,686 shares of the company’s stock worth $1,150,000 after purchasing an additional 40,567 shares during the period. Granite Investment Partners LLC acquired a new stake in shares of Viant Technology during the second quarter worth about $7,239,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Viant Technology by 30.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 404,895 shares of the company’s stock valued at $5,357,000 after purchasing an additional 93,330 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Viant Technology in the 1st quarter valued at approximately $982,000. 11.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup restated a “market outperform” rating on shares of Viant Technology in a report on Tuesday, November 11th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Viant Technology in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, October 8th. DA Davidson upped their price objective on Viant Technology from $15.00 to $15.50 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, B. Riley reissued a “buy” rating and issued a $16.50 target price (up previously from $14.50) on shares of Viant Technology in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.50.

About Viant Technology

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.