Viant Technology (NASDAQ:DSP) Hits New 1-Year High – Time to Buy?

Viant Technology Inc. (NASDAQ:DSP)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $22.67 and last traded at $22.56, with a volume of 192049 shares changing hands. The stock had previously closed at $21.90.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DSP shares. JMP Securities raised their target price on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Craig Hallum lifted their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Scotiabank began coverage on shares of Viant Technology in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 target price for the company. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Finally, Needham & Company LLC raised their target price on Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a report on Friday, January 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Viant Technology presently has an average rating of “Buy” and an average price target of $20.29.

Viant Technology Stock Up 5.4 %

The company’s 50-day simple moving average is $19.72 and its 200-day simple moving average is $14.55. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 384.73 and a beta of 1.00.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.76, for a total value of $267,967.84. Following the transaction, the chief financial officer now directly owns 358,624 shares of the company’s stock, valued at approximately $6,727,786.24. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction that occurred on Friday, December 6th. The shares were 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 in the company, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,815 shares of company stock valued at $2,105,138. Company insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Viant Technology by 11.8% during the 4th quarter. Bank of New York Mellon Corp now owns 36,480 shares of the company’s stock worth $693,000 after purchasing an additional 3,864 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Viant Technology during the fourth quarter worth $27,000. SG Americas Securities LLC acquired a new position in shares of Viant Technology in the 4th quarter valued at $142,000. Ritholtz Wealth Management lifted its stake in Viant Technology by 34.7% during the fourth quarter. Ritholtz Wealth Management now owns 22,484 shares of the company’s stock worth $427,000 after purchasing an additional 5,794 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Viant Technology in the 4th quarter valued at $88,000. 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.