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

Viant Technology Inc. (NASDAQ:DSP) gapped down before the market opened on Thursday . The stock had previously closed at $12.37, but opened at $10.26. Viant Technology shares last traded at $10.45, with a volume of 240,649 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on DSP. Rosenblatt Securities increased their price objective on Viant Technology from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Citizens Jmp upped their price target on Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 11th. DA Davidson raised their price target on shares of Viant Technology from $16.50 to $17.50 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 stock a “buy” rating in a research report on Tuesday, August 11th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.33.

Viant Technology Price Performance

The firm has a market capitalization of $690.62 million, a P/E ratio of 33.06 and a beta of 1.13. The firm’s 50 day moving average is $12.51 and its two-hundred day moving average is $11.73.

Insider Buying and Selling

In other news, CFO Larry Madden sold 27,451 shares of Viant Technology stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the completion of the transaction, the chief financial officer owned 398,371 shares of the company’s stock, valued at $5,202,725.26. This trade represents a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 60,784 shares of company stock valued at $778,342 in the last ninety days. Company insiders own 29.43% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. raised its stake in Viant Technology by 16.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock valued at $15,088,000 after buying an additional 190,248 shares during the period. Royce & Associates LP boosted its stake in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after acquiring an additional 382,664 shares during the period. Globeflex Capital L P acquired a new position in shares of Viant Technology during the 2nd quarter worth approximately $1,316,000. Norwood Investment Partners LP acquired a new position in shares of Viant Technology during the 4th quarter worth approximately $1,186,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in Viant Technology in the 4th quarter valued at $873,000. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Company Profile

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

The company’s platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.