98,511 Shares in Viant Technology Inc. $DSP Purchased by Norwood Investment Partners LP

Key Points

• Norwood Investment Partners LP opened a new stake in Viant Technology, buying 98,511 shares worth about $1.19 million in the fourth quarter. The position now represents roughly 1.3% of Norwood’s portfolio and 0.16% of Viant’s outstanding shares.
• Insider selling continued, with director Max O. Valdes and COO Christopher Vanderhook both selling shares in recent transactions. Over the last 90 days, insiders have sold 248,660 shares valued at about $2.79 million.
• Viant Technology reported mixed quarterly results, missing earnings estimates with EPS of -$0.03 but beating revenue expectations at $88.54 million. Despite the earnings miss, analysts currently maintain an average Buy rating with a $18.00 price target.

Norwood Investment Partners LP purchased a new position in shares of Viant Technology Inc. (NASDAQ:DSP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 98,511 shares of the company's stock, valued at approximately $1,186,000. Viant Technology accounts for approximately 1.3% of Norwood Investment Partners LP's investment portfolio, making the stock its 15th largest position. Norwood Investment Partners LP owned 0.16% of Viant Technology as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rhumbline Advisers grew its holdings in Viant Technology by 2.4% during the second quarter. Rhumbline Advisers now owns 45,042 shares of the company's stock worth $596,000 after purchasing an additional 1,056 shares during the period. JPMorgan Chase & Co. grew its holdings in Viant Technology by 4.3% during the second quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company's stock worth $359,000 after purchasing an additional 1,109 shares during the period. CWM LLC grew its holdings in Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock worth $34,000 after purchasing an additional 2,267 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Viant Technology by 620.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock worth $35,000 after purchasing an additional 2,483 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Viant Technology by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,136 shares of the company's stock worth $568,000 after purchasing an additional 3,130 shares during the period. Institutional investors own 11.38% of the company's stock.

Insiders Place Their Bets

In other Viant Technology news, Director Max O. Valdes sold 3,386 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.97, for a total transaction of $40,530.42. Following the completion of the sale, the director directly owned 29,449 shares in the company, valued at $352,504.53. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Vanderhook sold 9,125 shares of Viant Technology stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.10, for a total value of $101,287.50. Following the completion of the transaction, the chief operating officer owned 208,880 shares in the company, valued at approximately $2,318,568. The trade was a 4.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 248,660 shares of company stock valued at $2,793,211 over the last ninety days. Company insiders own 29.43% of the company's stock.

Viant Technology Trading Up 2.3%

NASDAQ DSP opened at $11.37 on Wednesday. Viant Technology Inc. has a 1-year low of $8.11 and a 1-year high of $15.18. The company has a 50 day moving average of $11.22 and a 200-day moving average of $11.22. The company has a market cap of $745.08 million, a price-to-earnings ratio of 31.58 and a beta of 1.04.

Viant Technology (NASDAQ:DSP - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The business had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. On average, equities research analysts forecast that Viant Technology Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on DSP. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. Freedom Capital upgraded shares of Viant Technology to a "strong-buy" rating in a research report on Tuesday, March 10th. Weiss Ratings downgraded shares of Viant Technology from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, May 13th. B. Riley Financial raised their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of Viant Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $18.00.

Viant Technology Profile

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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