Viant Technology (NASDAQ:DSP) Trading Up 4.2% - Here's Why

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shot up 4.2% on Tuesday . The stock traded as high as $13.10 and last traded at $12.93. 250,499 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 213,180 shares. The stock had previously closed at $12.41.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JMP Securities upped their price target on Viant Technology from $17.00 to $24.00 and gave the company a "market outperform" rating in a report on Monday, January 27th. Needham & Company LLC restated a "buy" rating and issued a $21.00 target price on shares of Viant Technology in a research note on Wednesday. Finally, Raymond James decreased their price target on shares of Viant Technology from $30.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $22.43.

Viant Technology Price Performance

The stock has a market capitalization of $778.96 million, a price-to-earnings ratio of 205.87 and a beta of 1.21. The firm has a 50 day simple moving average of $17.81 and a 200-day simple moving average of $16.56.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 14,284 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $23.12, for a total value of $330,246.08. Following the transaction, the chief financial officer now directly owns 344,340 shares in the company, valued at $7,961,140.80. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.80% of the stock is currently owned by corporate insiders.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DSP. JPMorgan Chase & Co. raised its position in Viant Technology by 102.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company's stock valued at $1,069,000 after purchasing an additional 48,826 shares during the last quarter. Geode Capital Management LLC raised 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 last quarter. Barclays PLC lifted its position in Viant Technology by 74.7% during the 3rd quarter. Barclays PLC now owns 39,255 shares of the company's stock worth $435,000 after buying an additional 16,784 shares in the last quarter. Quantbot Technologies LP bought a new stake in Viant Technology during the 4th quarter worth about $80,000. Finally, Raymond James Financial Inc. acquired a new stake in Viant Technology in the 4th quarter valued at about $3,022,000. 11.38% of the stock is owned by institutional investors and hedge funds.

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.