Viant Technology (NASDAQ:DSP) Trading Up 6.7% – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP) shares rose 6.7% during mid-day trading on Tuesday . The stock traded as high as $20.28 and last traded at $20.45. Approximately 140,816 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 190,608 shares. The stock had previously closed at $19.17.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DSP shares. Needham & Company LLC boosted their price objective on shares of Viant Technology from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. 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 report on Wednesday, November 13th. Scotiabank started coverage on Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price objective on the stock. Craig Hallum lifted their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology presently has a consensus rating of “Buy” and a consensus target price of $18.13.

Viant Technology Stock Up 1.2 %

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 339.89 and a beta of 0.98. The stock’s 50-day simple moving average is $19.15 and its 200 day simple moving average is $13.92.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 67,243 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $15.19, for a total transaction of $1,021,421.17. Following the transaction, the chief financial officer now directly owns 461,107 shares in the company, valued at approximately $7,004,215.33. This represents a 12.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the sale, the director now directly owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,313 shares of company stock valued at $2,122,470. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viant Technology during the fourth quarter valued at approximately $88,000. Mackenzie Financial Corp acquired a new stake in shares of Viant Technology in the 2nd quarter valued at $112,000. Victory Capital Management Inc. bought a new stake in shares of Viant Technology during the 3rd quarter worth $122,000. Finally, Algert Global LLC bought a new position in Viant Technology in the 2nd quarter valued at approximately $128,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Company Profile

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.