Viant Technology (NASDAQ:DSP) CFO Larry Madden Sells 17,042 Shares of Stock

Viant Technology Inc. (NASDAQ:DSP) CFO Larry Madden sold 17,042 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $12.52, for a total value of $213,365.84. Following the transaction, the chief financial officer directly owned 357,313 shares of the company’s stock, valued at $4,473,558.76. This represents a 4.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Larry Madden also recently made the following trade(s):

• On Friday, September 18th, Larry Madden sold 14,602 shares of Viant Technology stock. The shares were sold at an average price of $12.10, for a total transaction of $176,684.20.
• On Tuesday, August 11th, Larry Madden sold 27,451 shares of Viant Technology stock. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06.
• On Thursday, July 23rd, Larry Madden sold 2,814 shares of Viant Technology stock. The stock was sold at an average price of $10.69, for a total transaction of $30,081.66.
• On Wednesday, July 8th, Larry Madden sold 11,273 shares of Viant Technology stock. The shares were sold at an average price of $12.69, for a total transaction of $143,054.37.
• On Tuesday, July 7th, Larry Madden sold 9,149 shares of Viant Technology stock. The stock was sold at an average price of $12.86, for a total transaction of $117,656.14.
• On Monday, July 6th, Larry Madden sold 10,097 shares of Viant Technology stock. The stock was sold at an average price of $12.78, for a total transaction of $129,039.66.

Viant Technology Stock Performance

Shares of DSP opened at $11.88 on Friday. Viant Technology Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $14.80. The firm’s 50-day simple moving average is $12.42 and its two-hundred day simple moving average is $11.73. The stock has a market cap of $789.66 million, a PE ratio of 38.32 and a beta of 1.13.

Institutional Trading of Viant Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its stake in shares of Viant Technology by 8.8% in the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock worth $501,000 after purchasing an additional 3,207 shares during the last quarter. Globeflex Capital L P purchased a new stake in shares of Viant Technology during the second quarter valued at $1,316,000. Bank of New York Mellon Corp bought a new stake in Viant Technology in the 2nd quarter worth about $609,000. Versant Capital Management Inc increased its holdings in Viant Technology by 202.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock worth $35,000 after buying an additional 1,855 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after buying an additional 28,052 shares during the last quarter. Institutional investors own 11.38% of the company’s stock.

Key Viant Technology News

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

• Positive Sentiment: Viant Technology and a selling stockholder abandoned the planned sale of 8.5 million shares, citing market conditions and volatility. Avoiding the offering limits potential equity dilution and reduces the risk of additional shares entering the market. Viant Technology cancels planned stock offering citing market conditions
• Positive Sentiment: The withdrawal reverses concerns triggered earlier in the week when Viant reported the launch of the share offering, which had contributed to weakness in the stock. Viant withdraws planned equity offering amid market volatility
• Neutral Sentiment: CFO Larry Madden disclosed two sales totaling 31,644 shares at average prices of $12.10 and $12.52. Both transactions were executed under a pre-arranged Rule 10b5-1 plan, reducing their usefulness as a signal of management’s current outlook. He retained 342,711 shares after the transactions. Viant Technology CFO Form 4 filing

Wall Street Analyst Weigh In

Several research firms recently weighed in on DSP. Citizens Jmp upped their price target on Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Viant Technology from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Citigroup restated a “market outperform” rating on shares of Viant Technology in a report on Tuesday, August 11th. Finally, UBS Group lifted their price target on Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Viant Technology currently has an average rating of “Buy” and a consensus target price of $18.33.

About Viant Technology

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

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.