Viant Technology (NASDAQ:DSP) Share Price Breaks Above Fifty Day Moving Average – Should You Sell?

Viant Technology Inc. (NASDAQ:DSP – Get Free Report)’s share price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $12.81 and traded as high as $13.08. Viant Technology shares last traded at $12.96, with a volume of 219,052 shares.

Analyst Ratings Changes

DSP has been the subject of a number of recent analyst reports. Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Rosenblatt Securities increased their target price on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. DA Davidson upgraded Viant Technology to a “strong-buy” rating in a research report on Monday, October 5th. UBS Group boosted their target price on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp boosted their target price on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Viant Technology presently has an average rating of “Buy” and an average target price of $18.33.

Check Out Our Latest Stock Report on DSP

Viant Technology Price Performance

The firm has a market capitalization of $861.45 million, a PE ratio of 41.81 and a beta of 1.16. The stock’s 50-day moving average price is $12.81 and its 200 day moving average price is $11.78.

Insider Activity

In related news, CFO Larry Madden sold 20,711 shares of the stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $13.14, for a total value of $272,142.54. Following the transaction, the chief financial officer owned 322,000 shares of the company’s stock, valued at $4,231,080. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 79,806 shares of company stock valued at $1,020,703 in the last ninety days. 29.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of 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 buying an additional 1,855 shares in the last quarter. State of Wyoming bought a new stake in shares of Viant Technology in the third quarter valued at about $68,000. Meeder Asset Management Inc. bought a new stake in shares of Viant Technology in the first quarter valued at about $97,000. Hillsdale Investment Management Inc. bought a new stake in shares of Viant Technology in the first quarter valued at about $320,000. Finally, Squarepoint Ops LLC lifted its stake in 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 acquiring an additional 3,207 shares during the period. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

About Viant Technology

(Get Free Report)

Viant Technology Inc is an advertising technology company that provides software and services for planning, buying, and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase advertising across channels such as connected television, streaming video, display, mobile, audio, and digital out-of-home media.

The company’s solutions are designed to support automated, data-driven media buying, audience targeting, campaign optimization, and performance measurement.

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