Viant Technology (NASDAQ:DSP) Shares Climb 7.1% – Time to Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) shot up 7.1% during mid-day trading on Wednesday. The stock traded as high as $12.34 and last traded at $12.78. Approximately 199,638 shares changed hands during trading, a decline of 29% from the average session volume of 280,267 shares. The stock had previously closed at $11.93.

Analysts Set New Price Targets

A number of brokerages have recently commented on DSP. Weiss Ratings raised Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Rosenblatt Securities raised their price target on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Citigroup restated a “market outperform” rating on shares of Viant Technology in a report on Tuesday, August 11th. DA Davidson upgraded shares of Viant Technology to a “strong-buy” rating in a report on Monday. Finally, UBS Group boosted their target price on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $18.33.

Viant Technology Trading Down 0.1%

The stock has a market capitalization of $873.81 million, a PE ratio of 42.49 and a beta of 1.11. The business’s 50-day moving average is $12.62 and its two-hundred day moving average is $11.87.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 14,602 shares of the stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $12.10, for a total value of $176,684.20. Following the completion of the sale, the chief financial officer owned 342,711 shares in the company, valued at approximately $4,146,803.10. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,909 shares of company stock valued at $778,642 over the last ninety days. 29.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds and other institutional investors have recently bought and sold shares of DSP. Versant Capital Management Inc grew its position in Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after acquiring an additional 1,855 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Viant Technology in the first quarter valued at $97,000. Hillsdale Investment Management Inc. purchased a new position in shares of Viant Technology in the first quarter valued at $320,000. Squarepoint Ops LLC grew its holdings in Viant Technology by 8.8% during the 2nd quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock valued at $501,000 after purchasing an additional 3,207 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Viant Technology during the 2nd quarter valued at $609,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.