Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume – Here’s Why

Shares of Viant Technology Inc. (NASDAQ:DSP) saw unusually-high trading volume on Monday . Approximately 634,934 shares traded hands during mid-day trading, an increase of 176% from the previous session’s volume of 230,302 shares.The stock last traded at $11.2950 and had previously closed at $11.10.

Analyst Upgrades and Downgrades

DSP has been the topic of several research reports. Wall Street Zen lowered shares of Viant Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. DA Davidson boosted their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Freedom Capital raised shares of Viant Technology to a “strong-buy” rating in a research report on Tuesday, March 10th. B. Riley Financial boosted their price target on shares of Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.00.

Viant Technology Trading Up 0.1%

The stock’s fifty day moving average is $11.21 and its two-hundred day moving average is $11.21. The firm has a market cap of $728.04 million, a P/E ratio of 30.86 and a beta of 1.04.

Viant Technology (NASDAQ:DSP) last posted its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share 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 the consensus estimate of $50.13 million. Viant Technology had a return on equity of 2.40% and a net margin of 2.51%. On average, analysts forecast that Viant Technology Inc. will post -0.18 EPS for the current year.

Insider Activity

In other Viant Technology news, COO Christopher Vanderhook sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.79, for a total value of $26,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 14,670 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $12.10, for a total transaction of $177,507.00. Following the completion of the transaction, the chief financial officer directly owned 484,531 shares of the company’s stock, valued at approximately $5,862,825.10. This represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 234,159 shares of company stock worth $2,646,250. Insiders own 29.43% of the company’s stock.

Institutional Investors Weigh In On Viant Technology

A number of institutional investors have recently made changes to their positions in DSP. Russell Investments Group Ltd. boosted its stake 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 boosted its position in Viant Technology by 431.0% during the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock valued at $34,000 after buying an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Viant Technology by 620.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company’s stock valued at $35,000 after buying an additional 2,483 shares during the period. State of Alaska Department of Revenue purchased a new stake in Viant Technology during the 4th quarter valued at $64,000. Finally, BNP Paribas Financial Markets boosted its position in Viant Technology by 433.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company’s stock valued at $69,000 after buying an additional 6,454 shares during the period. 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.