Viant Technology (NASDAQ:DSP) Shares Down 9.4% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP)’s stock price was down 9.4% during trading on Wednesday . The company traded as low as $12.37 and last traded at $12.69. Approximately 90,456 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 224,162 shares. The stock had previously closed at $14.01.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DSP shares. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a report on Tuesday, March 10th. Loop Capital set a $14.50 price objective on shares of Viant Technology in a research report on Tuesday, March 10th. DA Davidson upped their price objective on shares of Viant Technology from $16.00 to $16.50 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. B. Riley Financial upped their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $18.00.

Viant Technology Stock Performance

The company has a market cap of $801.43 million, a PE ratio of 33.97 and a beta of 1.04. The stock’s 50-day simple moving average is $11.03 and its 200 day simple moving average is $11.07.

Viant Technology (NASDAQ:DSP) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The firm had revenue of $88.54 million for the quarter, compared to analysts’ expectations of $50.13 million. Viant Technology had a return on equity of 2.40% and a net margin of 2.51%. On average, sell-side analysts predict that Viant Technology Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 18,538 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $11.85, for a total value of $219,675.30. Following the completion of the transaction, the chief financial officer owned 535,161 shares in the company, valued at $6,341,657.85. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $11.80, for a total transaction of $177,000.00. Following the completion of the transaction, the insider owned 23,760 shares of the company’s stock, valued at $280,368. This represents a 38.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 195,798 shares of company stock valued at $2,181,451 in the last quarter. Insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock valued at $32,000 after purchasing an additional 1,228 shares in the last quarter. CWM LLC increased its holdings in shares of Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after purchasing an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Viant Technology by 620.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after purchasing an additional 2,483 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Viant Technology in the 4th quarter valued at about $64,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Viant Technology by 433.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after purchasing an additional 6,454 shares in the last quarter. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

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.