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

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 465,200 shares, an increase of 7.1% from the November 30th total of 434,400 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 173,600 shares, the days-to-cover ratio is presently 2.7 days.

Insider Buying and Selling

In other Viant Technology news, Director Max O. Valdes sold 7,500 shares of the stock in a transaction dated 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 sale, the director now owns 63,452 shares in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Larry Madden sold 67,243 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.19, for a total transaction of $1,021,421.17. Following the completion of the transaction, the chief financial officer now directly owns 461,107 shares in the company, valued at $7,004,215.33. This trade represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,750 shares of company stock valued at $1,907,441. 28.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viant Technology

Several hedge funds have recently modified their holdings of DSP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Viant Technology during the 2nd quarter worth $47,000. FMR LLC grew its position in Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company's stock worth $79,000 after buying an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Viant Technology in the second quarter valued at about $84,000. Mackenzie Financial Corp purchased a new position in Viant Technology in the second quarter valued at about $112,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Viant Technology during the 3rd quarter valued at approximately $122,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Stock Down 0.5 %

DSP traded down $0.09 on Thursday, hitting $18.90. 217,737 shares of the company traded hands, compared to its average volume of 140,742. The company has a 50 day moving average of $17.29 and a 200-day moving average of $12.98. Viant Technology has a 12-month low of $6.39 and a 12-month high of $21.74. The stock has a market capitalization of $1.19 billion, a PE ratio of 315.05 and a beta of 1.00.

Wall Street Analyst Weigh In

Several research firms have recently commented on DSP. Craig Hallum lifted their price target on shares of Viant Technology from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. 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 target on the stock. Canaccord Genuity Group raised their price objective on Viant Technology from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. JMP Securities upped their target price on shares of Viant Technology from $12.00 to $17.00 and gave the company a "market outperform" rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group upgraded shares of Viant Technology from a "hold" rating to a "buy" rating and lifted their price target for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Viant Technology presently has a consensus rating of "Buy" and an average price target of $17.75.

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.