Viant Technology (NASDAQ:DSP) Shares Down 8.7% – Here’s What Happened

Viant Technology Inc. (NASDAQ:DSP)’s share price traded down 8.7% during mid-day trading on Thursday . The company traded as low as $23.10 and last traded at $23.68. 156,026 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 246,851 shares. The stock had previously closed at $25.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DSP shares. JMP Securities lifted their price target on shares of Viant Technology from $17.00 to $24.00 and gave the company a “market outperform” rating in a research note on Monday, January 27th. Needham & Company LLC increased their price target on Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective for the company. Canaccord Genuity Group raised their target price on shares of Viant Technology from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $18.00 in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Viant Technology has a consensus rating of “Buy” and a consensus target price of $20.29.

Viant Technology Stock Down 12.8 %

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 377.35 and a beta of 1.01. The company’s fifty day simple moving average is $20.45 and its 200 day simple moving average is $15.14.

Insider Activity at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 22,504 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $17.03, for a total transaction of $383,243.12. Following the transaction, the chief financial officer now owns 392,634 shares in the company, valued at $6,686,557.02. This trade represents a 5.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $20.51, for a total transaction of $153,825.00. Following the completion of the sale, the director now owns 63,452 shares of the company’s stock, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,856 shares of company stock worth $1,413,963. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several large investors have recently modified their holdings of DSP. JPMorgan Chase & Co. lifted its position in Viant Technology by 353.7% during the fourth quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after purchasing an additional 341,684 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Viant Technology by 189.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock worth $4,961,000 after acquiring an additional 171,047 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Viant Technology during the 4th quarter worth approximately $3,022,000. Renaissance Technologies LLC boosted its position in shares of Viant Technology by 29.2% during the 4th quarter. Renaissance Technologies LLC now owns 471,200 shares of the company’s stock worth $8,948,000 after acquiring an additional 106,400 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in Viant Technology in the fourth quarter valued at approximately $1,230,000. 11.38% of the stock is owned by institutional investors and hedge funds.

About Viant Technology

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.