Viant Technology (NASDAQ:DSP) Trading 10.3% Higher – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP)’s stock price was up 10.3% during mid-day trading on Wednesday . The stock traded as high as $16.16 and last traded at $15.57. 210,633 shares traded hands during trading, a decline of 40% from the average daily volume of 353,165 shares. The stock had previously closed at $14.12.

Analysts Set New Price Targets

Several research firms recently commented on DSP. Craig Hallum lifted their target price on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their price target on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Raymond James dropped their price target on Viant Technology from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday. JMP Securities increased their target price on Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 target price on shares of Viant Technology in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology has an average rating of “Buy” and a consensus price target of $21.13.

Viant Technology Stock Performance

The firm has a market cap of $982.44 million, a P/E ratio of 261.53 and a beta of 1.01. The business has a 50-day simple moving average of $20.62 and a 200 day simple moving average of $16.23.

Insider Activity

In related news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the sale, the chief financial officer now owns 344,340 shares of the company’s stock, valued at $7,961,140.80. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the business’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 owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,068 shares of company stock valued at $752,039. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Viant Technology by 353.7% during the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after acquiring an additional 341,684 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Viant Technology by 189.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock worth $4,961,000 after purchasing an additional 171,047 shares during the period. Raymond James Financial Inc. purchased a new position in Viant Technology during the fourth quarter valued at $3,022,000. Millennium Management LLC grew its holdings in Viant Technology by 784.8% during the fourth quarter. Millennium Management LLC now owns 170,987 shares of the company’s stock valued at $3,247,000 after purchasing an additional 151,662 shares during the period. Finally, Marshall Wace LLP increased its position in Viant Technology by 182.1% in the fourth quarter. Marshall Wace LLP now owns 219,060 shares of the company’s stock worth $4,160,000 after buying an additional 141,403 shares in the last quarter. 11.38% of the stock is currently owned by 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.