Viant Technology (NASDAQ:DSP) Sees Strong Trading Volume After Analyst Upgrade

Shares of Viant Technology Inc. (NASDAQ:DSP) saw an uptick in trading volume on Thursday after Needham & Company LLC raised their price target on the stock from $12.00 to $18.00. Needham & Company LLC currently has a buy rating on the stock. 76,110 shares traded hands during trading, a decline of 38% from the previous session’s volume of 122,610 shares.The stock last traded at $15.40 and had previously closed at $16.46.

Several other research firms have also issued reports on DSP. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $18.00 in a research report on Wednesday. JMP Securities raised their price target on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $18.00 in a research report on Wednesday. Finally, Craig Hallum raised their price target on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Viant Technology has an average rating of “Buy” and an average price target of $15.86.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $11.23, for a total value of $31,084.64. Following the completion of the transaction, the chief financial officer now owns 529,848 shares in the company, valued at $5,950,193.04. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 10,419 shares of company stock worth $116,647. 28.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC raised its stake in Viant Technology by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 447,977 shares of the company’s stock valued at $4,959,000 after buying an additional 2,915 shares during the last quarter. State Street Corp raised its stake in Viant Technology by 0.6% during the third quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after buying an additional 1,722 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Viant Technology by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 179,233 shares of the company’s stock worth $1,769,000 after purchasing an additional 6,064 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Viant Technology by 659.4% in the second quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after purchasing an additional 123,635 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Viant Technology in the second quarter worth $1,387,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Up 5.3 %

The company has a market cap of $1.02 billion, a P/E ratio of 262.00 and a beta of 0.72. The company has a fifty day moving average of $11.55 and a 200 day moving average of $10.53.

Viant Technology Company Profile

Viant Technology Inc operates as an advertising technology company. It provides Household ID, a people-based innovation that combines digital and personal identifiers into a normalized household profile; AI Bid Optimizer, solution that uses AI to analyze historical bid opportunities to predict the lowest media cost for desired advertisement; and Viant Data Platform, which offers marketers control over their own data with actionable insights into their marketing initiatives within a single platform.