Corton Capital Inc. Makes New Investment in Viant Technology Inc. $DSP

Corton Capital Inc. acquired a new stake in shares of Viant Technology Inc. (NASDAQ:DSP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,364 shares of the company’s stock, valued at approximately $150,000.

A number of other institutional investors have also recently added to or reduced their stakes in DSP. AlphaQuest LLC raised its position in shares of Viant Technology by 287.6% during the second quarter. AlphaQuest LLC now owns 4,640 shares of the company’s stock worth $61,000 after purchasing an additional 3,443 shares during the period. Central Pacific Bank Trust Division purchased a new position in Viant Technology in the 2nd quarter worth about $75,000. Envestnet Asset Management Inc. purchased a new position in Viant Technology in the 2nd quarter worth about $166,000. Voya Investment Management LLC lifted its stake in Viant Technology by 24.6% during the first quarter. Voya Investment Management LLC now owns 19,129 shares of the company’s stock valued at $237,000 after buying an additional 3,782 shares in the last quarter. Finally, Bailard Inc. lifted its position in shares of Viant Technology by 18.4% in the 1st quarter. Bailard Inc. now owns 19,972 shares of the company’s stock valued at $248,000 after acquiring an additional 3,100 shares in the last quarter. 11.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Larry Madden sold 13,006 shares of Viant Technology stock in a transaction on Monday, September 15th. The shares were sold at an average price of $9.73, for a total value of $126,548.38. Following the completion of the sale, the chief financial officer owned 423,255 shares of the company’s stock, valued at approximately $4,118,271.15. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher Vanderhook sold 8,782 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $9.73, for a total transaction of $85,448.86. Following the completion of the sale, the chief operating officer owned 356,284 shares of the company’s stock, valued at $3,466,643.32. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 28.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DSP has been the subject of several research analyst reports. DA Davidson initiated coverage on Viant Technology in a research note on Friday, August 29th. They issued a “buy” rating and a $15.00 price objective for the company. Raymond James Financial dropped their target price on Viant Technology from $20.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Tuesday, August 12th. B. Riley assumed coverage on shares of Viant Technology in a research report on Tuesday, October 21st. They issued a “buy” rating and a $14.50 price target for the company. Canaccord Genuity Group lowered their price objective on shares of Viant Technology from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Viant Technology in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $19.25.

Viant Technology Stock Performance

Shares of NASDAQ DSP opened at $8.50 on Wednesday. The stock has a market cap of $535.08 million, a price-to-earnings ratio of 65.39 and a beta of 1.07. The business has a 50 day simple moving average of $9.10 and a 200 day simple moving average of $11.81. Viant Technology Inc. has a 52 week low of $8.11 and a 52 week high of $26.33.

Viant Technology Profile

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.