Viant Technology (NASDAQ:DSP) Stock Price Down 3.6% - Time to Sell?

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares fell 3.6% on Friday . The company traded as low as $18.31 and last traded at $18.34. 70,645 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 129,868 shares. The stock had previously closed at $19.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on DSP. Canaccord Genuity Group upgraded shares of Viant Technology from a "hold" rating to a "buy" rating and upped their price target for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Craig Hallum raised 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 raised Viant Technology from a "hold" rating to a "buy" rating and increased their target price for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Needham & Company LLC raised their target price on shares of Viant Technology from $12.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, JMP Securities boosted their price target on Viant Technology from $12.00 to $17.00 and gave the stock a "market outperform" rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.86.

Viant Technology Stock Performance

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 315.80 and a beta of 0.72. The business's 50 day moving average is $12.32 and its 200-day moving average is $10.86.

Insiders Place Their Bets

In related news, CFO Larry Madden sold 2,768 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the sale, the chief financial officer now directly owns 529,848 shares of the company's stock, valued at approximately $5,950,193.04. This represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 100,166 shares of company stock worth $1,521,311 in the last quarter. 28.80% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

A number of institutional investors and hedge funds have recently modified their holdings of DSP. ClariVest Asset Management LLC purchased a new position in shares of Viant Technology during the 2nd quarter valued at $1,387,000. Acadian Asset Management LLC increased its stake in shares of Viant Technology by 659.4% in the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company's stock valued at $1,403,000 after buying an additional 123,635 shares during the period. Federated Hermes Inc. boosted its stake in Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company's stock worth $669,000 after acquiring an additional 66,509 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Viant Technology during the second quarter worth $236,000. Finally, Martingale Asset Management L P acquired a new position in Viant Technology during the third quarter worth $254,000. 11.38% of the stock is owned by institutional investors and hedge funds.

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.

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