Viant Technology (NASDAQ:DSP) Trading 6.9% Higher – Should You Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) rose 6.9% during trading on Thursday . The stock traded as high as $10.83 and last traded at $10.83. Approximately 39,759 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 188,656 shares. The stock had previously closed at $10.13.

Wall Street Analysts Forecast Growth

DSP has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a research note on Tuesday, November 11th. Citizens Jmp decreased their price target on Viant Technology from $18.00 to $16.00 and set a “market outperform” rating for the company in a report on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Viant Technology in a research report on Wednesday, January 21st. DA Davidson lifted their target price on shares of Viant Technology from $15.00 to $15.50 and gave the company a “buy” rating in a report on Tuesday, November 11th. Finally, B. Riley Financial reissued a “buy” rating and set a $16.50 price target (up from $14.50) on shares of Viant Technology in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Viant Technology currently has a consensus rating of “Buy” and an average price target of $18.57.

Viant Technology Price Performance

The stock has a market capitalization of $695.47 million, a price-to-earnings ratio of 101.28 and a beta of 1.05. The stock has a 50 day moving average price of $11.10 and a 200-day moving average price of $10.24.

Insider Transactions at Viant Technology

In related news, COO Christopher Vanderhook sold 9,102 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $11.70, for a total transaction of $106,493.40. Following the transaction, the chief operating officer directly owned 347,182 shares in the company, valued at approximately $4,062,029.40. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Larry Madden sold 13,477 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $11.70, for a total transaction of $157,680.90. Following the completion of the sale, the chief financial officer owned 409,778 shares of the company’s stock, valued at approximately $4,794,402.60. The trade was a 3.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 155,123 shares of company stock valued at $1,729,594. Corporate insiders own 29.40% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

A number of institutional investors have recently added to or reduced their stakes in DSP. Granite Investment Partners LLC purchased a new stake in Viant Technology in the 2nd quarter valued at $7,239,000. Royce & Associates LP raised its holdings 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. Topline Capital Management LLC acquired a new position in shares of Viant Technology during the 3rd quarter valued at about $2,150,000. Invenomic Capital Management LP purchased a new stake in shares of Viant Technology in the fourth quarter valued at about $2,748,000. Finally, Millennium Management LLC grew its holdings in shares of Viant Technology by 91.2% in the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock valued at $5,177,000 after purchasing an additional 205,160 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

About Viant Technology

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.