Viant Technology Inc. (NASDAQ:DSP – Get Free Report)’s stock price dropped 9.4% during mid-day trading on Wednesday . The company traded as low as $12.37 and last traded at $12.69. Approximately 90,456 shares were traded during trading, a decline of 60% from the average daily volume of 224,162 shares. The stock had previously closed at $14.01.
Analysts Set New Price Targets
DSP has been the topic of a number of analyst reports. 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. Freedom Capital upgraded shares of Viant Technology to a “strong-buy” rating in a research report on Tuesday, March 10th. Loop Capital set a $14.50 target price on shares of Viant Technology in a research report on Tuesday, March 10th. B. Riley Financial increased their target price on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.00.
Check Out Our Latest Report on Viant Technology
Viant Technology Stock Performance
Viant Technology (NASDAQ:DSP – Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The company had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. On average, equities research analysts anticipate that Viant Technology Inc. will post -0.18 EPS for the current year.
Insider Activity at Viant Technology
In related news, CFO Larry Madden sold 18,538 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were 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 owned 535,161 shares of the company’s stock, valued at $6,341,657.85. This represents a 3.35% decrease in their position. The sale 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, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total transaction of $177,000.00. Following the completion of the transaction, the insider directly owned 23,760 shares of the company’s stock, valued at approximately $280,368. The trade was a 38.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 195,798 shares of company stock valued at $2,181,451. 29.43% of the stock is owned by insiders.
Hedge Funds Weigh In On Viant Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Royce & Associates LP lifted its stake in Viant Technology by 72.3% in the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock valued at $10,981,000 after purchasing an additional 382,664 shares during the last quarter. Topline Capital Management LLC bought a new position in shares of Viant Technology during the third quarter valued at $2,150,000. Invenomic Capital Management LP bought a new position in shares of Viant Technology during the fourth quarter valued at $2,748,000. Millennium Management LLC raised its stake in shares of Viant Technology by 91.2% during the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock valued at $5,177,000 after acquiring an additional 205,160 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its stake 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 valued at $15,088,000 after acquiring an additional 190,248 shares during the last quarter. 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.
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