Viant Technology Inc. (NASDAQ:DSP) Sees Large Increase in Short Interest

Viant Technology Inc. (NASDAQ:DSP) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 465,200 shares, an increase of 7.1% from the November 30th total of 434,400 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 173,600 shares, the days-to-cover ratio is currently 2.7 days.

Viant Technology Trading Down 1.5 %

Shares of DSP opened at $18.71 on Thursday. Viant Technology has a 12-month low of $6.39 and a 12-month high of $21.74. The company has a market capitalization of $1.18 billion, a PE ratio of 311.89 and a beta of 1.00. The business’s 50 day moving average is $17.14 and its 200 day moving average is $12.93.

Insider Buying and Selling

In related news, CFO Larry Madden sold 2,768 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the transaction, the chief financial officer now owns 529,848 shares in the company, valued at $5,950,193.04. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Max O. Valdes sold 7,500 shares of the stock in a transaction that occurred on 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 sale, the director now owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,750 shares of company stock valued at $1,907,441 over the last three months. 28.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viant Technology

Several hedge funds have recently modified their holdings of DSP. Bank of New York Mellon Corp grew its position in shares of Viant Technology by 14.8% during the second quarter. Bank of New York Mellon Corp now owns 43,571 shares of the company’s stock valued at $430,000 after purchasing an additional 5,601 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Viant Technology during the 2nd quarter valued at approximately $47,000. Rhumbline Advisers raised its stake in shares of Viant Technology by 5.1% in the second quarter. Rhumbline Advisers now owns 42,430 shares of the company’s stock valued at $419,000 after acquiring an additional 2,070 shares during the period. Acadian Asset Management LLC lifted its stake in 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, Ashton Thomas Private Wealth LLC bought a new stake in shares of Viant Technology during the 2nd quarter worth approximately $84,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DSP. JMP Securities boosted their target price on shares of Viant Technology from $12.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their target price on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Needham & Company LLC boosted their price objective on shares of Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $18.00 in a report on Wednesday, November 13th. Finally, Scotiabank assumed coverage on shares of Viant Technology in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.75.

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.