Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 655,700 shares, a growth of 8.5% from the January 15th total of 604,300 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average trading volume of 252,400 shares, the days-to-cover ratio is currently 2.6 days.

Viant Technology Price Performance

Shares of Viant Technology stock traded down $1.27 during trading on Friday, hitting $21.01. The stock had a trading volume of 330,592 shares, compared to its average volume of 284,564. The firm has a market cap of $1.32 billion, a P/E ratio of 350.23 and a beta of 1.01. The business has a fifty day moving average of $20.72 and a two-hundred day moving average of $15.68. Viant Technology has a fifty-two week low of $7.77 and a fifty-two week high of $26.33.

Insider Activity

In related news, CFO Larry Madden sold 14,284 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.51, for a total transaction of $278,680.84. Following the completion of the transaction, the chief financial officer now owns 378,350 shares in the company, valued at $7,381,608.50. The trade was a 3.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $20.51, for a total value of $153,825.00. Following the transaction, the director now owns 63,452 shares of the company's stock, valued at $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,352 shares of company stock worth $1,030,720. 28.80% of the stock is currently owned by insiders.

Institutional Trading of Viant Technology

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Viant Technology by 102.2% in the third 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. Geode Capital Management LLC lifted its holdings in shares of Viant Technology by 1.9% in the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company's stock valued at $4,045,000 after buying an additional 6,803 shares during the period. Barclays PLC lifted its holdings in shares of Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company's stock valued at $435,000 after buying an additional 16,784 shares during the period. FMR LLC lifted its holdings in shares of Viant Technology by 77.9% in 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 period. Finally, State Street Corp lifted its holdings in shares of Viant Technology by 0.6% in the third quarter. State Street Corp now owns 283,365 shares of the company's stock valued at $3,137,000 after buying an additional 1,722 shares during the period. Institutional investors and hedge funds own 11.38% of the company's stock.

Analysts Set New Price Targets

DSP has been the subject of a number of analyst reports. Canaccord Genuity Group upgraded 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 research report on Wednesday, November 13th. Needham & Company LLC boosted their price target on Viant Technology from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Scotiabank began coverage on Viant Technology in a research report on Thursday, December 5th. They set a "sector outperform" rating and a $27.00 price target for the company. Craig Hallum boosted their price target on Viant Technology from $14.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group boosted 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. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $20.29.

About Viant Technology

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.