Capital Llc Sells 7,500 Shares of Viant Technology (NASDAQ:DSP) Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $10.79, for a total value of $80,925.00. Following the completion of the sale, the insider directly owned 37,500 shares of the company’s stock, valued at approximately $404,625. This represents a 16.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Viant Technology Stock Performance

DSP traded up $0.05 during midday trading on Thursday, hitting $11.00. The stock had a trading volume of 186,119 shares, compared to its average volume of 253,669. The company has a market cap of $696.85 million, a P/E ratio of 30.56 and a beta of 1.00. The business has a fifty day moving average of $11.04 and a 200 day moving average of $10.93. Viant Technology Inc. has a 1 year low of $8.11 and a 1 year high of $15.18.

Viant Technology (NASDAQ:DSP) last issued its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a return on equity of 2.40% and a net margin of 2.51%.The firm had revenue of $88.54 million during the quarter, compared to analysts’ expectations of $50.13 million. On average, equities research analysts anticipate that Viant Technology Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Viant Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its holdings in Viant Technology by 72.3% in the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after purchasing an additional 382,664 shares in the last quarter. Topline Capital Management LLC bought a new position in shares of Viant Technology during the third quarter valued at $2,150,000. Invenomic Capital Management LP bought a new position in shares of Viant Technology during the fourth quarter valued at $2,748,000. Millennium Management LLC increased its holdings in shares of Viant Technology by 91.2% during the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock valued at $5,177,000 after acquiring an additional 205,160 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its holdings in shares of Viant Technology by 16.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after acquiring an additional 190,248 shares in the last quarter. Institutional investors own 11.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DSP shares. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Thursday, April 16th. Freedom Capital upgraded Viant Technology to a “strong-buy” rating in a research report on Tuesday, March 10th. Weiss Ratings downgraded Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. DA Davidson boosted their price objective on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, B. Riley Financial boosted their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $18.00.

About Viant Technology

Viant Technology Inc (Nasdaq: DSP) is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.