Viant Technology (NASDAQ:DSP) Stock Price Down 4.3% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSPGet Free Report) fell 4.3% during mid-day trading on Wednesday . The company traded as low as $10.29 and last traded at $10.47. 73,386 shares changed hands during trading, a decline of 66% from the average session volume of 217,812 shares. The stock had previously closed at $10.94.

Analysts Set New Price Targets

A number of brokerages have issued reports on DSP. Loop Capital set a $14.50 price objective on Viant Technology in a report on Tuesday, March 10th. Freedom Capital raised Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. DA Davidson lifted their price objective on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, May 12th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research note on Thursday, April 16th. Finally, B. Riley Financial raised their target price on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Two 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. According to MarketBeat.com, Viant Technology presently has an average rating of “Buy” and an average target price of $18.00.

Read Our Latest Research Report on DSP

Viant Technology Price Performance

The company has a market capitalization of $690.13 million, a price-to-earnings ratio of 30.20 and a beta of 1.00. The stock has a 50 day moving average price of $11.01 and a two-hundred day moving average price of $10.90.

Viant Technology (NASDAQ:DSPGet Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share 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 analyst estimates of $50.13 million. Sell-side analysts forecast that Viant Technology Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Capital V. Llc sold 8,389 shares of Viant Technology stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total value of $90,097.86. Following the completion of the sale, the insider directly owned 37,500 shares in the company, valued at $402,750. This trade represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Vanderhook sold 2,796 shares of Viant Technology stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total value of $30,029.04. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 178,913 shares of company stock worth $1,976,016 over the last three months. 28.80% of the stock is currently owned by company insiders.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSP. Russell Investments Group Ltd. boosted its holdings in Viant Technology by 86.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after buying an additional 1,228 shares during the last quarter. CWM LLC boosted its holdings in Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after buying an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Viant Technology by 620.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after purchasing an additional 2,483 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Viant Technology during the 4th quarter valued at about $64,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Viant Technology by 433.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after purchasing an additional 6,454 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

About Viant Technology

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Viant Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viant Technology and related companies with MarketBeat.com's FREE daily email newsletter.