Viant Technology (NASDAQ:DSP) Sets New 1-Year High – What’s Next?

Shares of Viant Technology Inc. (NASDAQ:DSP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.89 and last traded at $25.70, with a volume of 123540 shares traded. The stock had previously closed at $24.76.

Analyst Ratings Changes

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

Viant Technology Price Performance

The company has a market capitalization of $1.51 billion, a P/E ratio of 400.90 and a beta of 1.01. The business has a 50-day moving average of $20.33 and a 200-day moving average of $15.07.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 67,243 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $15.19, for a total value of $1,021,421.17. Following the completion of the sale, the chief financial officer now owns 461,107 shares in the company, valued at approximately $7,004,215.33. The trade was a 12.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the transaction, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,099 shares of company stock worth $2,435,384. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

A number of hedge funds have recently bought and sold shares of the stock. LPL Financial LLC grew its position in shares of Viant Technology by 63.2% in the 4th quarter. LPL Financial LLC now owns 21,834 shares of the company’s stock worth $415,000 after buying an additional 8,453 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Viant Technology during the 4th quarter valued at about $80,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Viant Technology in the 4th quarter valued at $382,000. Raymond James Financial Inc. acquired a new position in Viant Technology during the fourth quarter valued at $3,022,000. Finally, Bank of New York Mellon Corp grew its holdings in Viant Technology by 11.8% during the fourth quarter. Bank of New York Mellon Corp now owns 36,480 shares of the company’s stock worth $693,000 after acquiring an additional 3,864 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.