Viant Technology (NASDAQ:DSP) Shares Down 4.7% Following Insider Selling

Viant Technology Inc. (NASDAQ:DSP)’s stock price traded down 4.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $13.68 and last traded at $13.50. 60,104 shares traded hands during trading, a decline of 74% from the average session volume of 234,588 shares. The stock had previously closed at $14.17.

Specifically, Director Max O. Valdes sold 4,838 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $14.29, for a total transaction of $69,135.02. Following the transaction, the director now directly owns 21,591 shares of the company’s stock, valued at approximately $308,535.39. This trade represents a 18.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Max O. Valdes sold 5,062 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.87, for a total transaction of $70,209.94. Following the completion of the transaction, the director now owns 26,429 shares in the company, valued at approximately $366,570.23. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages have issued reports on DSP. Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research note on Wednesday, May 7th. Raymond James dropped their price objective on Viant Technology from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Viant Technology in a research note on Wednesday, April 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Viant Technology currently has an average rating of “Buy” and an average target price of $21.00.

Viant Technology Price Performance

The stock has a market capitalization of $841.53 million, a price-to-earnings ratio of 224.20 and a beta of 1.14. The firm has a fifty day moving average of $13.86 and a 200 day moving average of $16.96.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently modified their holdings of the company. Deutsche Bank AG grew its stake in Viant Technology by 30.8% during the 4th quarter. Deutsche Bank AG now owns 17,021 shares of the company’s stock worth $323,000 after purchasing an additional 4,012 shares in the last quarter. Quantbot Technologies LP acquired a new position in Viant Technology during the 4th quarter worth $80,000. BNP Paribas Financial Markets acquired a new position in Viant Technology during the 4th quarter worth $484,000. Northern Trust Corp grew its stake in Viant Technology by 11.2% during the 4th quarter. Northern Trust Corp now owns 158,512 shares of the company’s stock worth $3,010,000 after purchasing an additional 15,996 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Viant Technology during the 4th quarter worth $3,022,000. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.