Viant Technology (NASDAQ:DSP) Reaches New 12-Month High - Here's Why

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $17.15 and last traded at $16.66, with a volume of 17147 shares changing hands. The stock had previously closed at $16.21.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group raised Viant Technology from a "hold" rating to a "buy" rating and lifted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Needham & Company LLC lifted their price target on shares of Viant Technology from $12.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. 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. 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. Finally, JMP Securities lifted their price target 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. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $15.86.

Viant Technology Stock Performance

The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 290.72 and a beta of 0.72. The company has a 50-day moving average of $11.67 and a 200-day moving average of $10.62.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 3,084 shares of the business's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the completion of the sale, the chief financial officer now directly owns 538,434 shares of the company's stock, valued at $5,949,695.70. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 10,419 shares of company stock worth $116,647. Insiders own 28.80% of the company's stock.

Institutional Trading of Viant Technology

Several institutional investors have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC grew its stake in shares of 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 buying an additional 2,915 shares during the period. Geode Capital Management LLC grew its stake in shares of Viant Technology by 1.9% during the 3rd 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. State Street Corp grew its stake in shares of 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 buying an additional 1,722 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Viant Technology by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company's stock valued at $1,769,000 after buying an additional 6,064 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Viant Technology by 659.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company's stock worth $1,403,000 after purchasing an additional 123,635 shares during the period. 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.