Viant Technology (NASDAQ:DSP) Trading Down 10.7% – Here’s Why

Shares of Viant Technology Inc. (NASDAQ:DSP) fell 10.7% on Monday . The stock traded as low as $13.29 and last traded at $13.10. 83,147 shares traded hands during trading, a decline of 57% from the average session volume of 193,834 shares. The stock had previously closed at $14.67.

Analyst Ratings Changes

Several brokerages have recently weighed in on DSP. Craig Hallum upped their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Raymond James reduced their price objective on Viant Technology from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Scotiabank assumed coverage on Viant Technology in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $22.43.

Viant Technology Stock Performance

The company has a fifty day simple moving average of $20.10 and a 200-day simple moving average of $16.35. The company has a market capitalization of $840.15 million, a PE ratio of 222.04 and a beta of 1.02.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 14,284 shares of the 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 transaction, the chief financial officer now directly owns 358,624 shares in the company, valued at approximately $6,727,786.24. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its holdings in shares of Viant Technology by 0.8% during the 4th quarter. Federated Hermes Inc. now owns 58,492 shares of the company’s stock worth $1,111,000 after purchasing an additional 465 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company’s stock worth $30,000 after purchasing an additional 728 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Viant Technology during the 4th quarter worth $27,000. State Street Corp boosted its holdings in Viant Technology by 0.6% during the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after acquiring an additional 1,722 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in Viant Technology by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after acquiring an additional 2,915 shares during the period. 11.38% of the stock is currently 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.