Viant Technology (NASDAQ:DSP) Shares Down 8.7% - Should You Sell?

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) fell 8.7% during trading on Thursday . The company traded as low as $23.10 and last traded at $23.68. 156,026 shares were traded during trading, a decline of 37% from the average session volume of 246,851 shares. The stock had previously closed at $25.95.

Wall Street Analyst Weigh In

Several research analysts recently commented on DSP shares. JMP Securities boosted their price objective on shares of Viant Technology from $17.00 to $24.00 and gave the stock a "market outperform" rating in a research note on Monday, January 27th. Needham & Company LLC raised their price target on shares of Viant Technology from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Craig Hallum upped their price objective on shares of Viant Technology from $14.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Canaccord Genuity Group upgraded 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 research note on Wednesday, November 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Viant Technology from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology presently has an average rating of "Buy" and a consensus target price of $20.29.

Viant Technology Trading Down 2.6 %

The company has a fifty day moving average of $20.57 and a 200-day moving average of $15.33. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 384.56 and a beta of 1.01.

Insider Transactions at Viant Technology

In related news, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the transaction, the director now owns 63,452 shares in the company, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Larry Madden sold 14,284 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $19.51, for a total transaction of $278,680.84. Following the transaction, the chief financial officer now directly owns 378,350 shares in the company, valued at approximately $7,381,608.50. The trade was a 3.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,352 shares of company stock valued at $1,030,720 over the last ninety days. Insiders own 28.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System purchased a new stake in shares of Viant Technology in the 4th quarter valued at approximately $27,000. Ameritas Investment Partners Inc. raised its position in Viant Technology by 83.3% in the fourth quarter. Ameritas Investment Partners Inc. now owns 1,602 shares of the company's stock valued at $30,000 after purchasing an additional 728 shares during the period. FMR LLC lifted its stake 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 purchasing an additional 3,123 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Viant Technology during the fourth quarter worth $80,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viant Technology during the 4th quarter worth about $88,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.