Insider Selling: Viant Technology (NASDAQ:DSP) Major Shareholder Sells 14,778 Shares of Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 14,778 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $12.24, for a total value of $180,882.72. Following the completion of the transaction, the insider directly owned 7,722 shares of the company’s stock, valued at approximately $94,517.28. This trade represents a 65.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Viant Technology Stock Up 2.3%

Shares of DSP stock traded up $0.29 during mid-day trading on Thursday, reaching $12.75. The stock had a trading volume of 212,149 shares, compared to its average volume of 161,571. Viant Technology Inc. has a one year low of $8.11 and a one year high of $26.33. The firm has a market cap of $795.98 million, a PE ratio of 115.92 and a beta of 1.03. The firm’s 50 day simple moving average is $11.41 and its 200 day simple moving average is $10.79.

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

Hedge Funds Weigh In On Viant Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC bought a new stake in Viant Technology during the third quarter worth about $31,000. AlphaQuest LLC boosted its holdings in shares of Viant Technology by 287.6% in the 2nd quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after acquiring an additional 3,443 shares in the last quarter. BNP Paribas Financial Markets grew its position in Viant Technology by 433.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after acquiring an additional 6,454 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Viant Technology during the 3rd quarter valued at $100,000. Finally, Quantbot Technologies LP acquired a new stake in Viant Technology during the 3rd quarter valued at $137,000. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DSP has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Viant Technology in a research report on Tuesday, November 11th. Citizens Jmp cut their price target on shares of Viant Technology from $18.00 to $16.00 and set a “market outperform” rating for the company in a research note on Tuesday, November 11th. B. Riley reaffirmed a “buy” rating and set a $16.50 price objective (up from $14.50) on shares of Viant Technology in a report on Tuesday, November 11th. Citigroup reiterated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, November 11th. Finally, DA Davidson raised their target price on Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.