Viant Technology (NASDAQ:DSP) Stock Price Breaks Below 200-Day Moving Average – Should You Sell?

Shares of Viant Technology Inc. (NASDAQ:DSP) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $11.79 and traded as low as $11.57. Viant Technology shares last traded at $11.59, with a volume of 314,320 shares.

Analyst Upgrades and Downgrades

DSP has been the subject of a number of research reports. Citizens Jmp boosted their target price on shares of Viant Technology from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Rosenblatt Securities lifted their target price 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 dropped their target price on shares of Viant Technology from $19.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Finally, DA Davidson assumed coverage on shares of Viant Technology in a research report on Tuesday. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.17.

Viant Technology Stock Performance

The firm has a market capitalization of $770.39 million, a PE ratio of 46.36 and a beta of 1.16. The stock’s 50 day simple moving average is $12.80 and its two-hundred day simple moving average is $11.79.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings results on Monday, November 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $110.43 million during the quarter, compared to analyst estimates of $66.16 million. Viant Technology had a return on equity of 1.96% and a net margin of 1.88%. Equities research analysts expect that Viant Technology Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 20,711 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $13.14, for a total transaction of $272,142.54. Following the transaction, the chief financial officer owned 322,000 shares of the company’s stock, valued at approximately $4,231,080. The trade was a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 52,355 shares of company stock worth $662,193 in the last quarter. Company insiders own 29.43% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norwood Investment Partners LP raised its holdings in shares of Viant Technology by 25.7% during the 3rd quarter. Norwood Investment Partners LP now owns 421,500 shares of the company’s stock worth $5,189,000 after acquiring an additional 86,267 shares during the period. Royce & Associates LP boosted its position in shares of Viant Technology by 29.9% during the 3rd quarter. Royce & Associates LP now owns 1,392,004 shares of the company’s stock valued at $17,136,000 after acquiring an additional 320,781 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Viant Technology in the third quarter valued at about $432,000. State of Wyoming purchased a new stake in shares of Viant Technology in the third quarter valued at about $68,000. Finally, Inspire Investing LLC acquired a new stake in Viant Technology during the third quarter worth about $643,000. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

Viant Technology is an advertising technology company that provides a demand-side platform for planning, buying and measuring digital advertising. Its software helps advertisers and agencies run programmatic campaigns across channels including connected TV, mobile, audio and digital out-of-home. The company’s platform includes tools for campaign management, audience targeting and measurement. Viant also offers identity and data capabilities designed to help advertisers reach audiences across devices and assess campaign performance.