Viant Technology Inc. $DSP Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Viant Technology Inc. (NASDAQ:DSP) by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 441,800 shares of the company’s stock after selling 52,000 shares during the period. Renaissance Technologies LLC owned about 0.70% of Viant Technology worth $4,948,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DSP. Royal Bank of Canada increased its holdings in shares of Viant Technology by 246.4% during the 1st quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock valued at $363,000 after purchasing an additional 20,779 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Viant Technology by 303.6% during the first quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock worth $587,000 after buying an additional 35,578 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Viant Technology by 77.1% during the first quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock worth $1,691,000 after buying an additional 59,323 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Viant Technology during the second quarter valued at $166,000. Finally, Geode Capital Management LLC increased its holdings in Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock valued at $5,036,000 after buying an additional 22,857 shares in the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

Viant Technology Trading Up 0.1%

DSP opened at $12.32 on Friday. The firm has a market capitalization of $807.33 million, a PE ratio of 34.22 and a beta of 1.08. Viant Technology Inc. has a twelve month low of $8.11 and a twelve month high of $14.16. The firm’s 50-day moving average price is $12.03 and its 200 day moving average price is $11.31.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. As a group, analysts predict that Viant Technology Inc. will post -0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. B. Riley Financial increased their price target on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Finally, DA Davidson boosted their price objective on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $18.00.

Insider Buying and Selling

In other news, major shareholder Capital V. Llc sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $10.89, for a total transaction of $163,350.00. Following the transaction, the insider owned 22,500 shares of the company’s stock, valued at approximately $245,025. The trade was a 40.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 25,376 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $11.10, for a total transaction of $281,673.60. Following the completion of the sale, the chief financial officer directly owned 459,155 shares of the company’s stock, valued at $5,096,620.50. This represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 185,150 shares of company stock worth $2,145,427. 29.43% of the stock is owned by corporate insiders.

Viant Technology Profile

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.