Viant Technology (NASDAQ:DSP) Stock Price Up 9.3% – Here’s What Happened

Shares of Viant Technology Inc. (NASDAQ:DSP) rose 9.3% during mid-day trading on Friday . The stock traded as high as $12.81 and last traded at $12.6660. Approximately 377,338 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 221,326 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

DSP has been the subject of several recent analyst reports. DA Davidson upped their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Loop Capital set a $14.50 price objective on Viant Technology in a report on Tuesday, March 10th. B. Riley Financial increased their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings lowered Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.00.

Viant Technology Price Performance

The firm has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $11.03. The firm has a market capitalization of $833.54 million, a P/E ratio of 35.33 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The firm had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. On average, research analysts anticipate that Viant Technology Inc. will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Larry Madden sold 18,538 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $11.85, for a total value of $219,675.30. Following the completion of the transaction, the chief financial officer directly owned 535,161 shares of the company’s stock, valued at $6,341,657.85. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $11.80, for a total value of $177,000.00. Following the completion of the transaction, the insider directly owned 23,760 shares of the company’s stock, valued at $280,368. The trade was a 38.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 195,798 shares of company stock valued at $2,181,451 over the last ninety days. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in shares of Viant Technology by 86.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after acquiring an additional 1,228 shares during the period. CWM LLC boosted its stake in Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after buying an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Viant Technology by 620.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after buying an additional 2,483 shares during the period. State of Alaska Department of Revenue bought a new stake in Viant Technology during the fourth quarter valued at $64,000. Finally, BNP Paribas Financial Markets boosted its stake in Viant Technology by 433.7% during the third quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after buying an additional 6,454 shares during the period. 11.38% of the stock is owned by institutional investors.

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.