Viant Technology (NASDAQ:DSP) Trading Down 3.2% – Should You Sell?

Viant Technology Inc. (NASDAQ:DSP) shares traded down 3.2% during trading on Friday . The company traded as low as $19.02 and last traded at $19.48. 246,874 shares traded hands during trading, an increase of 77% from the average session volume of 139,605 shares. The stock had previously closed at $20.13.

Analyst Ratings Changes

DSP has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. JMP Securities upped their price objective on shares of Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. Craig Hallum lifted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price target on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.75.

Viant Technology Trading Down 3.0 %

The business’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $12.39. The firm has a market cap of $1.23 billion, a P/E ratio of 325.55 and a beta of 1.00.

Insider Activity

In related news, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Larry Madden sold 2,768 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the transaction, the chief financial officer now owns 529,848 shares of the company’s stock, valued at approximately $5,950,193.04. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,834 shares of company stock valued at $1,941,519. Insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Viant Technology during the second quarter worth approximately $47,000. FMR LLC grew its position in shares of Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after buying an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Viant Technology in the 2nd quarter worth $84,000. Mackenzie Financial Corp bought a new stake in shares of Viant Technology in the 2nd quarter valued at about $112,000. Finally, Victory Capital Management Inc. bought a new position in shares of Viant Technology during the third quarter worth $122,000. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.