Acadian Asset Management LLC Sells 84,397 Shares of Viant Technology Inc. $DSP

Key Points

• Acadian Asset Management LLC reduced its holdings in Viant Technology Inc. by 38.7%, selling 84,397 shares and maintaining 133,606 shares valued at approximately $1.66 million at the end of the first quarter.
• Several institutional investors, including Lord Abbett & CO. LLC and Punch & Associates Investment Management Inc., are actively adjusting their positions in Viant Technology, with notable increases and new stakes.
• Viant Technology's stock currently has a consensus rating of "Buy" with an average price target of $19.78, as various analysts adjust their forecasts.

Acadian Asset Management LLC trimmed its holdings in shares of Viant Technology Inc. (NASDAQ:DSP - Free Report) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,606 shares of the company's stock after selling 84,397 shares during the quarter. Acadian Asset Management LLC owned 0.21% of Viant Technology worth $1,656,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. grew its position in Viant Technology by 37.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company's stock worth $12,283,000 after acquiring an additional 267,326 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Viant Technology during the 1st quarter valued at approximately $4,023,000. Harbor Capital Advisors Inc. bought a new stake in shares of Viant Technology during the 1st quarter valued at $3,867,000. Norwood Investment Partners LP bought a new stake in Viant Technology during the first quarter worth about $2,881,000. Finally, Millennium Management LLC lifted its stake in shares of Viant Technology by 784.8% in the fourth quarter. Millennium Management LLC now owns 170,987 shares of the company's stock worth $3,247,000 after buying an additional 151,662 shares in the last quarter. Institutional investors own 11.38% of the company's stock.

Viant Technology Price Performance

DSP traded down $0.31 on Friday, reaching $9.09. The company's stock had a trading volume of 527,086 shares, compared to its average volume of 227,436. Viant Technology Inc. has a 1 year low of $9.05 and a 1 year high of $26.33. The stock has a market cap of $572.22 million, a price-to-earnings ratio of 69.93 and a beta of 1.10. The business's 50 day moving average is $11.41 and its 200 day moving average is $12.78.

Insider Buying and Selling

In other Viant Technology news, CFO Larry Madden sold 13,006 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $9.73, for a total value of $126,548.38. Following the completion of the transaction, the chief financial officer directly owned 423,255 shares in the company, valued at $4,118,271.15. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Christopher Vanderhook sold 8,782 shares of Viant Technology stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $85,448.86. Following the completion of the sale, the chief operating officer owned 356,284 shares of the company's stock, valued at $3,466,643.32. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 29.40% of the company's stock.

Analyst Ratings Changes

DSP has been the topic of several recent research reports. JMP Securities decreased their price objective on Viant Technology from $24.00 to $18.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Wall Street Zen raised Viant Technology from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. DA Davidson assumed coverage on shares of Viant Technology in a report on Friday, August 29th. They set a "buy" rating and a $15.00 target price on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Tuesday, August 12th. Finally, Raymond James Financial decreased their target price on shares of Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating for the company in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.78.

Viant Technology 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.