Viant Technology Inc. (NASDAQ:DSP) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Analysts maintain a bullish outlook: Viant Technology has a consensus “Buy” rating from eight brokerages, with six buys, one strong buy and one hold. The average 12-month price target is $18.33, above the stock’s recent $12.24 price.
• Insiders have been selling shares: Company insiders sold 165,304 shares worth approximately $1.98 million over the past quarter, including sales by the CFO and major shareholder under pre-arranged Rule 10b5-1 plans.
• Institutional ownership remains limited but has attracted new buying: Hedge funds and other institutions own 11.38% of the company, while several investors recently increased stakes or established new positions.

Shares of Viant Technology Inc. (NASDAQ:DSP - Get Free Report) have been assigned an average rating of "Buy" from the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.3333.

Several analysts recently issued reports on DSP shares. B. Riley Financial boosted their target price on shares of Viant Technology from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. UBS Group increased their price target on shares of Viant Technology from $17.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Citigroup reiterated a "market outperform" rating on shares of Viant Technology in a research note on Tuesday, August 11th. Citizens Jmp boosted their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 11th. Finally, Rosenblatt Securities upped their price objective on Viant Technology from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 27,451 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06. Following the completion of the transaction, the chief financial officer directly owned 398,371 shares in the company, valued at approximately $5,202,725.26. The trade was a 6.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Capital V. Llc sold 7,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $10.96, for a total transaction of $82,200.00. Following the completion of the sale, the insider directly owned 37,500 shares of the company's stock, valued at $411,000. This represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 165,304 shares of company stock valued at $1,980,706. Company insiders own 29.43% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System increased its stake in Viant Technology by 236.5% in the 2nd quarter. California State Teachers Retirement System now owns 2,709 shares of the company's stock worth $34,000 after buying an additional 1,904 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Viant Technology in the second quarter valued at about $1,316,000. Bank of New York Mellon Corp purchased a new position in shares of Viant Technology in the second quarter valued at about $609,000. Versant Capital Management Inc boosted its stake in shares of Viant Technology by 202.3% in 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 during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Viant Technology by 81.6% in the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company's stock worth $699,000 after acquiring an additional 28,052 shares during the period. Hedge funds and other institutional investors own 11.38% of the company's stock.

Viant Technology Stock Down 1.7%

NASDAQ DSP opened at $12.24 on Tuesday. The company has a 50-day moving average price of $12.19 and a 200-day moving average price of $11.35. Viant Technology has a 52 week low of $8.11 and a 52 week high of $14.80. The firm has a market capitalization of $813.59 million, a P/E ratio of 39.48 and a beta of 1.08.

About Viant Technology

Viant Technology Inc Nasdaq: DSP is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.

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