Viant Technology (NASDAQ:DSP) Reaches New 1-Year High – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.46 and last traded at $18.40, with a volume of 22478 shares traded. The stock had previously closed at $18.92.

Analyst Ratings Changes

Several research firms have issued reports on DSP. Craig Hallum upped their price objective on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Needham & Company LLC upped their target price on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities upped their target price on Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.86.

Viant Technology Trading Down 4.2 %

The business has a 50-day moving average of $12.79 and a 200 day moving average of $11.10. The firm has a market capitalization of $1.14 billion, a P/E ratio of 315.39 and a beta of 0.72.

Insiders Place Their Bets

In related news, CFO Larry Madden sold 22,504 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.03, for a total value of $383,243.12. Following the transaction, the chief financial officer now owns 392,634 shares of the company’s stock, valued at $6,686,557.02. This represents a 5.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 100,166 shares of company stock worth $1,521,311 over the last 90 days. Corporate insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of institutional investors have recently modified their holdings of DSP. Allspring Global Investments Holdings LLC purchased a new stake in Viant Technology in the second quarter worth about $47,000. FMR LLC lifted its holdings in Viant Technology by 77.9% in the third 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 purchased a new stake in Viant Technology in the second quarter worth about $84,000. Summit Global Investments purchased a new stake in Viant Technology in the second quarter worth about $111,000. Finally, Mackenzie Financial Corp purchased a new stake in Viant Technology in the second quarter worth about $112,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.