Viant Technology Inc. (NASDAQ:DSP – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $12.10, but opened at $12.74. Viant Technology shares last traded at $12.23, with a volume of 9,825 shares traded.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on DSP. Freedom Capital raised Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. DA Davidson increased their target price on Viant Technology from $16.00 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a report on Thursday, April 16th. B. Riley Financial increased their target price on Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Loop Capital set a $14.50 target price on Viant Technology in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.00.
View Our Latest Research Report on DSP
Viant Technology Trading Down 4.0%
Viant Technology (NASDAQ:DSP – Get Free Report) 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 business had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. Equities analysts predict that Viant Technology Inc. will post -0.18 earnings per share for the current year.
Insider Activity
In other news, CFO Larry Madden sold 18,538 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $11.85, for a total transaction 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 represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $11.80, for a total value of $177,000.00. Following the transaction, the insider directly owned 23,760 shares of the company’s stock, valued at $280,368. This represents a 38.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 195,798 shares of company stock worth $2,181,451. Corporate insiders own 29.43% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of DSP. Royal Bank of Canada raised its stake in Viant Technology by 246.4% in the first quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock valued at $363,000 after buying an additional 20,779 shares during the period. AQR Capital Management LLC raised its stake in Viant Technology by 303.6% in the first quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock valued at $587,000 after buying an additional 35,578 shares during the period. Goldman Sachs Group Inc. raised its stake in Viant Technology by 77.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock valued at $1,691,000 after buying an additional 59,323 shares during the period. Envestnet Asset Management Inc. bought a new stake in Viant Technology in the second quarter valued at approximately $166,000. Finally, Geode Capital Management LLC raised its stake in Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock valued at $5,036,000 after buying an additional 22,857 shares during the period. 11.38% of the stock is owned by institutional investors and hedge funds.
Viant Technology Company Profile
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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