Viant Technology (NASDAQ:DSP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Viant Technology from “buy” to “hold,” although the broader analyst consensus remains “Buy” with an average price target of $18.33.
• DSP shares opened at $12.64, with a market capitalization of approximately $840 million and a 12-month trading range of $8.16 to $14.80.
• Insider selling has continued, including the CFO’s sale of 20,711 shares for about $272,000; insiders own 29.43% of the company, while institutional investors hold 11.38%.

Viant Technology (NASDAQ:DSP - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently issued reports on DSP. DA Davidson upgraded Viant Technology to a "strong-buy" rating in a research report on Monday, October 5th. Rosenblatt Securities increased their price objective on Viant Technology from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Weiss Ratings raised Viant Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Citigroup reiterated a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th. Finally, Citizens Jmp increased their price target on Viant Technology from $16.00 to $17.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $18.33.

Viant Technology Price Performance

DSP stock opened at $12.64 on Friday. The company has a fifty day moving average price of $12.68 and a 200 day moving average price of $11.94. Viant Technology has a 12 month low of $8.16 and a 12 month high of $14.80. The company has a market cap of $840.18 million, a price-to-earnings ratio of 40.77 and a beta of 1.11.

Insider Activity

In other news, CFO Larry Madden sold 20,711 shares of the business's stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $13.14, for a total transaction of $272,142.54. Following the sale, the chief financial officer owned 322,000 shares of the company's stock, valued at $4,231,080. The trade was a 6.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 82,620 shares of company stock worth $1,050,784. 29.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in shares of Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock worth $35,000 after acquiring an additional 1,855 shares in the last quarter. Squarepoint Ops LLC increased its position in Viant Technology by 8.8% in the 2nd quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock worth $501,000 after purchasing an additional 3,207 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Viant Technology in the 1st quarter worth about $97,000. Quantinno Capital Management LP increased its position in Viant Technology by 81.6% in the 1st quarter. Quantinno Capital Management LP now owns 62,409 shares of the company's stock worth $699,000 after purchasing an additional 28,052 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Viant Technology during the 1st quarter worth about $320,000. Institutional investors and hedge funds own 11.38% of the company's stock.

About Viant Technology

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company's technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.

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