Viant Technology (NASDAQ:DSP) Stock Price Down 10.7% – What’s Next?

Viant Technology Inc. (NASDAQ:DSP)’s share price was down 10.7% during trading on Monday . The stock traded as low as $13.29 and last traded at $13.10. Approximately 83,147 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 193,834 shares. The stock had previously closed at $14.67.

Analyst Ratings Changes

Several analysts have issued reports on DSP shares. JMP Securities boosted their target price on Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Raymond James cut their target price on shares of Viant Technology from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Viant Technology in a report on Tuesday, March 4th. Scotiabank assumed coverage on shares of Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price on the stock. Finally, Canaccord Genuity Group increased their target price on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $22.43.

Viant Technology Stock Down 10.9 %

The company has a market cap of $821.54 million, a PE ratio of 218.09 and a beta of 1.02. The stock has a 50-day moving average of $20.32 and a 200-day moving average of $16.32.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.76, for a total transaction of $267,967.84. Following the completion of the sale, the chief financial officer now owns 358,624 shares of the company’s stock, valued at approximately $6,727,786.24. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DSP. Renaissance Technologies LLC raised its holdings in shares of Viant Technology by 29.2% during the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company’s stock valued at $8,948,000 after acquiring an additional 106,400 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Viant Technology by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock worth $4,959,000 after purchasing an additional 2,915 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after purchasing an additional 341,684 shares during the period. Geode Capital Management LLC increased its position in shares of Viant Technology by 1.9% during the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after buying an additional 6,803 shares during the period. Finally, State Street Corp increased its position in shares of Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after buying an additional 1,722 shares during the period. Institutional investors own 11.38% of the company’s stock.

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.