Viant Technology (NASDAQ:DSP) Trading Down 3.6% – Here’s What Happened

Shares of Viant Technology Inc. (NASDAQ:DSP) were down 3.6% during trading on Friday . The company traded as low as $18.31 and last traded at $18.34. Approximately 70,645 shares were traded during trading, a decline of 46% from the average daily volume of 129,868 shares. The stock had previously closed at $19.02.

Analyst Upgrades and Downgrades

Several brokerages have commented on DSP. Craig Hallum upped their price objective on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC upped their price objective on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and boosted their price objective for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, JMP Securities raised their price target on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Viant Technology has an average rating of “Buy” and a consensus target price of $15.86.

Viant Technology Stock Performance

The firm has a market capitalization of $1.18 billion, a PE ratio of 312.00 and a beta of 0.72. The firm’s 50 day moving average price is $12.47 and its 200-day moving average price is $10.95.

Insiders Place Their Bets

In other Viant Technology news, CFO Larry Madden sold 3,084 shares of the company’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 transaction, the chief financial officer now directly owns 538,434 shares in the company, valued at approximately $5,949,695.70. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 100,166 shares of company stock worth $1,521,311. 28.80% of the stock is owned by corporate insiders.

Institutional Trading of Viant Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after acquiring an additional 16,784 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Viant Technology by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after purchasing an additional 6,803 shares in the last quarter. State Street Corp grew its holdings in shares of Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock worth $3,137,000 after buying an additional 1,722 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Viant Technology during the third quarter worth $254,000. Finally, FMR LLC raised its position in shares of Viant Technology by 77.9% in the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after buying an additional 3,123 shares during the last quarter. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.