Viant Technology (NASDAQ:DSP) Shares Down 5.5% – Time to Sell?

Viant Technology Inc. (NASDAQ:DSP)’s share price dropped 5.5% during mid-day trading on Friday . The company traded as low as $19.05 and last traded at $19.13. Approximately 75,907 shares traded hands during trading, a decline of 46% from the average daily volume of 140,226 shares. The stock had previously closed at $20.25.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DSP shares. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Needham & Company LLC increased their price objective on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities raised their price target on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Scotiabank initiated coverage on Viant Technology in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective on the stock. Finally, Craig Hallum raised their price target on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $17.75.

Viant Technology Price Performance

The firm’s 50 day moving average is $16.84 and its 200 day moving average is $12.78. The company has a market capitalization of $1.21 billion, a PE ratio of 320.55 and a beta of 1.00.

Insider Buying and Selling at Viant Technology

In other news, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $20.51, for a total value of $153,825.00. Following the completion of the transaction, the director now owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This represents a 10.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Larry Madden sold 67,243 shares of Viant Technology stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.19, for a total value of $1,021,421.17. Following the completion of the sale, the chief financial officer now directly owns 461,107 shares in the company, valued at $7,004,215.33. This trade represents a 12.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,750 shares of company stock valued at $1,907,441. 28.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Viant Technology in the 2nd quarter valued at about $47,000. FMR LLC lifted its holdings in shares of Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after purchasing an additional 3,123 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Viant Technology in the 2nd quarter valued at $84,000. Victory Capital Management Inc. acquired a new stake in Viant Technology during the 3rd quarter worth about $122,000. Finally, Mackenzie Financial Corp purchased a new position in Viant Technology during the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.