Viant Technology Inc. (NASDAQ:DSP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Viant Technology Inc. (NASDAQ:DSP) have been assigned an average rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.3333.

Several analysts recently issued reports on DSP shares. B. Riley Financial boosted their target price on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. UBS Group increased their price target on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “market outperform” rating on shares of Viant Technology in a research note on Tuesday, August 11th. Citizens Jmp boosted their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities upped their price objective on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 27,451 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. The trade was a 6.45% 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, major shareholder Capital V. Llc sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.96, for a total transaction of $82,200.00. Following the completion of the sale, the insider directly owned 37,500 shares of the company’s stock, valued at $411,000. This represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 165,304 shares of company stock valued at $1,980,706. Company insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System increased its stake in Viant Technology by 236.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,709 shares of the company’s stock worth $34,000 after buying an additional 1,904 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Viant Technology in the second quarter valued at about $1,316,000. Bank of New York Mellon Corp purchased a new position in shares of Viant Technology in the second quarter valued at about $609,000. Versant Capital Management Inc boosted its stake in shares of Viant Technology by 202.3% in the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after acquiring an additional 1,855 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Viant Technology by 81.6% in the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after acquiring an additional 28,052 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Down 1.7%

NASDAQ DSP opened at $12.24 on Tuesday. The company has a 50-day moving average price of $12.19 and a 200-day moving average price of $11.35. Viant Technology has a 52 week low of $8.11 and a 52 week high of $14.80. The firm has a market capitalization of $813.59 million, a P/E ratio of 39.48 and a beta of 1.08.

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.