Insider Selling: Viant Technology (NASDAQ:DSP) Major Shareholder Sells 14,778 Shares of Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 14,778 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $12.24, for a total transaction of $180,882.72. Following the completion of the transaction, the insider directly owned 7,722 shares in the company, valued at $94,517.28. This trade represents a 65.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Viant Technology Price Performance

DSP traded up $0.29 during trading on Thursday, reaching $12.75. 212,149 shares of the stock traded hands, compared to its average volume of 161,571. The stock’s 50-day simple moving average is $11.41 and its two-hundred day simple moving average is $10.79. Viant Technology Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $26.33. The stock has a market cap of $795.98 million, a price-to-earnings ratio of 115.92 and a beta of 1.03.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.03). The firm had revenue of $85.58 million for the quarter, compared to analysts’ expectations of $85.54 million. Viant Technology had a negative return on equity of 5.00% and a net margin of 0.57%. Research analysts anticipate that Viant Technology Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viant Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new position in Viant Technology during the third quarter worth $31,000. AlphaQuest LLC grew its position in Viant Technology by 287.6% in the 2nd 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 last quarter. BNP Paribas Financial Markets increased its holdings in shares of Viant Technology by 433.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock worth $69,000 after purchasing an additional 6,454 shares during the period. Corton Capital Inc. acquired a new position in shares of Viant Technology during the second quarter valued at about $150,000. Finally, Franklin Resources Inc. acquired a new position in shares of Viant Technology during the third quarter valued at about $100,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on DSP shares. DA Davidson increased their price target on shares of Viant Technology from $15.00 to $15.50 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Viant Technology in a report on Wednesday, October 8th. Citigroup restated a “market outperform” rating on shares of Viant Technology in a report on Tuesday, November 11th. B. Riley reaffirmed a “buy” rating and issued a $16.50 price target (up previously from $14.50) on shares of Viant Technology in a research report on Tuesday, November 11th. Finally, Citizens Jmp lowered their price objective on Viant Technology from $18.00 to $16.00 and set a “market outperform” rating on the stock in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $18.50.

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.