Viant Technology (NASDAQ:DSP) Trading 6.7% Higher – Still a Buy?

Viant Technology Inc. (NASDAQ:DSP) rose 6.7% during trading on Tuesday . The stock traded as high as $20.28 and last traded at $20.45. Approximately 140,816 shares changed hands during trading, a decline of 26% from the average daily volume of 190,608 shares. The stock had previously closed at $19.17.

Analysts Set New Price Targets

DSP has been the topic of several analyst reports. Needham & Company LLC lifted their target price on shares of Viant Technology from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. 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 report on Wednesday, November 13th. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price objective for the company. JMP Securities increased their price target on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $18.00 in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Viant Technology presently has a consensus rating of “Buy” and a consensus price target of $18.13.

Viant Technology Stock Up 1.2 %

The company has a 50-day moving average price of $19.15 and a 200-day moving average price of $13.92. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 339.89 and a beta of 0.98.

Insider Activity

In other news, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $19.51, for a total value of $278,680.84. Following the transaction, the chief financial officer now owns 378,350 shares in the company, valued at $7,381,608.50. The trade was a 3.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of the firm’s 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 completion of the transaction, the director now directly owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,313 shares of company stock worth $2,122,470 in the last 90 days. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Viant Technology by 102.2% during 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 period. AQR Capital Management LLC purchased a new position in shares of Viant Technology in the second quarter worth $236,000. Martingale Asset Management L P purchased a new position in shares of Viant Technology during the 3rd quarter valued at about $254,000. Squarepoint Ops LLC boosted its stake in shares of Viant Technology by 42.8% during the 2nd quarter. Squarepoint Ops LLC now owns 73,008 shares of the company’s stock worth $721,000 after acquiring an additional 21,888 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of 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 during the period. 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.