Viant Technology (NASDAQ:DSP) Reaches New 52-Week High – Here’s Why

Shares of Viant Technology Inc. (NASDAQ:DSP) reached a new 52-week high on Monday . The company traded as high as $25.89 and last traded at $25.70, with a volume of 123540 shares traded. The stock had previously closed at $24.76.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DSP. Canaccord Genuity Group lifted their price target on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Scotiabank started coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 target price on the stock. Canaccord Genuity Group upgraded shares of Viant Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Craig Hallum lifted their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities raised their price target on shares of Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a report on Monday, January 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $20.29.

Viant Technology Price Performance

The firm has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $15.07. The firm has a market capitalization of $1.51 billion, a PE ratio of 400.90 and a beta of 1.01.

Insider Buying and Selling

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction dated 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 sale, the director now owns 63,452 shares in the company, valued at $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Larry Madden sold 22,504 shares of Viant Technology stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $17.03, for a total value of $383,243.12. Following the transaction, the chief financial officer now directly owns 392,634 shares in the company, valued at approximately $6,686,557.02. The trade was a 5.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,099 shares of company stock valued at $2,435,384. 28.80% of the stock is owned by insiders.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently modified their holdings of DSP. New York State Teachers Retirement System bought a new stake in Viant Technology during the 4th quarter valued at approximately $27,000. FMR LLC raised its position in shares of Viant Technology by 77.9% during the third 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. Quantbot Technologies LP bought a new stake in shares of Viant Technology during the fourth quarter valued at approximately $80,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Viant Technology in the fourth quarter worth $88,000. Finally, Victory Capital Management Inc. bought a new position in shares of Viant Technology during the third quarter worth $122,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

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.