Viant Technology (NASDAQ:DSP) Trading Up 6.7% – Should You Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) were up 6.7% during mid-day trading on Tuesday . The company 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

DSP has been the topic of several research reports. JMP Securities increased their price target on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Craig Hallum increased their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price for the company. 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 research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Viant Technology has an average rating of “Buy” and an average price target of $18.13.

Viant Technology Price Performance

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 336.31 and a beta of 0.98. The firm has a fifty day moving average of $18.93 and a 200 day moving average of $13.80.

Insider Transactions at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction 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 $6,727,786.24. This trade represents a 3.83 % 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. Also, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The shares were 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 directly owns 63,452 shares in the company, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,313 shares of company stock worth $2,122,470 in the last quarter. Company insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its holdings in Viant Technology by 5,286.9% in the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock valued at $669,000 after purchasing an additional 66,509 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Viant Technology by 102.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company’s stock valued at $1,069,000 after buying an additional 48,826 shares during the period. AQR Capital Management LLC acquired a new position in Viant Technology during the 2nd quarter worth about $236,000. Martingale Asset Management L P purchased a new position in Viant Technology during the 3rd quarter valued at about $254,000. Finally, Squarepoint Ops LLC grew its position in Viant Technology by 42.8% in the 2nd quarter. Squarepoint Ops LLC now owns 73,008 shares of the company’s stock valued at $721,000 after acquiring an additional 21,888 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.