Viant Technology (NASDAQ:DSP) Shares Down 4.7% on Insider Selling

Viant Technology Inc. (NASDAQ:DSP) fell 4.7% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $13.68 and last traded at $13.50. 60,104 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 234,588 shares. The stock had previously closed at $14.17.

Specifically, Director Max O. Valdes sold 4,838 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $14.29, for a total value of $69,135.02. Following the sale, the director now owns 21,591 shares of the company’s stock, valued at $308,535.39. The trade was a 18.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Max O. Valdes sold 5,062 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $13.87, for a total transaction of $70,209.94. Following the sale, the director now directly owns 26,429 shares in the company, valued at $366,570.23. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

DSP has been the subject of a number of research reports. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research note on Wednesday, May 7th. Raymond James lowered their target price on Viant Technology from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $21.00 price target on shares of Viant Technology in a report on Wednesday, April 2nd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $21.00.

Viant Technology Price Performance

The business has a 50 day moving average of $13.84 and a 200 day moving average of $16.98. The firm has a market capitalization of $840.90 million, a price-to-earnings ratio of 224.04 and a beta of 1.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Viant Technology by 2.8% during the 1st quarter. Rhumbline Advisers now owns 43,986 shares of the company’s stock worth $546,000 after purchasing an additional 1,214 shares in the last quarter. Strs Ohio acquired a new position in shares of Viant Technology during the 1st quarter worth approximately $506,000. Goldman Sachs Group Inc. raised its position in Viant Technology by 77.1% during the first quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock worth $1,691,000 after acquiring an additional 59,323 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Viant Technology in the 1st quarter valued at about $417,000. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of Viant Technology by 37.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company’s stock worth $12,283,000 after acquiring an additional 267,326 shares during the period. Institutional investors 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.