Viant Technology (NASDAQ:DSP) Trading Down 7% – Should You Sell?

Viant Technology Inc. (NASDAQ:DSP) shares dropped 7% during trading on Friday . The stock traded as low as $11.48 and last traded at $11.5440. Approximately 73,760 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 237,234 shares. The stock had previously closed at $12.41.

Wall Street Analyst Weigh In

DSP has been the topic of a number of recent research reports. B. Riley Financial raised their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. DA Davidson boosted their target price on shares of Viant Technology from $16.00 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Viant Technology has a consensus rating of “Buy” and a consensus target price of $18.00.

Viant Technology Stock Performance

The company has a 50 day moving average of $11.83 and a two-hundred day moving average of $11.33. The stock has a market capitalization of $753.64 million, a PE ratio of 31.94 and a beta of 1.03.

Viant Technology (NASDAQ:DSP) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The business had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. As a group, research analysts predict that Viant Technology Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Viant Technology

In related news, major shareholder Capital V. Llc sold 15,000 shares of Viant Technology stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $11.12, for a total value of $166,800.00. Following the completion of the sale, the insider directly owned 22,500 shares in the company, valued at $250,200. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 25,376 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $11.10, for a total transaction of $281,673.60. Following the transaction, the chief financial officer owned 459,155 shares in the company, valued at $5,096,620.50. The trade was a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 290,202 shares of company stock valued at $3,300,047 over the last ninety days. 29.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viant Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Viant Technology by 202.3% during the 2nd 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. Quantinno Capital Management LP raised 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 purchasing an additional 28,052 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Viant Technology by 16.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after purchasing an additional 190,248 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Viant Technology during the first quarter worth about $97,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Viant Technology in the first quarter valued at approximately $320,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.