Viant Technology (NASDAQ:DSP) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Viant Technology (NASDAQ:DSP) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently issued reports on DSP. DA Davidson raised shares of Viant Technology to a “strong-buy” rating in a report on Monday, October 5th. Rosenblatt Securities lifted their price objective on shares of Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. UBS Group boosted their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Viant Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.33.

Viant Technology Stock Down 1.6%

DSP stock opened at $12.64 on Friday. The firm has a 50 day moving average of $12.68 and a 200 day moving average of $11.94. The stock has a market capitalization of $840.18 million, a PE ratio of 40.77 and a beta of 1.11. Viant Technology has a 52 week low of $8.16 and a 52 week high of $14.80.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 20,711 shares of Viant Technology stock in a transaction that occurred on Tuesday, October 13th. The shares were sold at an average price of $13.14, for a total transaction of $272,142.54. Following the completion of the sale, the chief financial officer directly owned 322,000 shares in the company, valued at approximately $4,231,080. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 82,620 shares of company stock worth $1,050,784. Insiders own 29.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares during the period. Meeder Asset Management Inc. purchased a new stake in Viant Technology in the first quarter valued at $97,000. Hillsdale Investment Management Inc. purchased a new stake in Viant Technology in the first quarter valued at $320,000. Squarepoint Ops LLC grew its position in Viant Technology by 8.8% during the 2nd quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock worth $501,000 after purchasing an additional 3,207 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Viant Technology during the 2nd quarter worth about $609,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.