Punch & Associates Investment Management Inc. Purchases 190,248 Shares of Viant Technology Inc. $DSP

Key Points

• Punch & Associates Investment Management increased its Viant Technology stake by 16.4% in Q1, buying 190,248 additional shares and bringing its total to 1,347,163 shares worth about $15.1 million.
• Insiders have been selling shares, including major shareholder Capital V. LLC and CFO Larry Madden; over the last 90 days, insiders sold 200,874 shares worth $2.34 million.
• Analysts remain mostly positive on DSP, with an average rating of “Buy” and an average price target of $18, even as the company recently posted a wider-than-expected earnings miss despite stronger-than-expected revenue.

Punch & Associates Investment Management Inc. lifted its position in shares of Viant Technology Inc. (NASDAQ:DSP - Free Report) by 16.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,347,163 shares of the company's stock after buying an additional 190,248 shares during the period. Punch & Associates Investment Management Inc. owned about 2.13% of Viant Technology worth $15,088,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Viant Technology by 86.9% in the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock worth $32,000 after buying an additional 1,228 shares in the last quarter. CWM LLC grew its position in Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock valued at $34,000 after acquiring an additional 2,267 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Viant Technology by 620.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock worth $35,000 after acquiring an additional 2,483 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Viant Technology during the fourth quarter worth approximately $64,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Viant Technology by 433.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,942 shares of the company's stock worth $69,000 after acquiring an additional 6,454 shares during the last quarter. 11.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Viant Technology

In other Viant Technology news, major shareholder Capital V. Llc sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $10.89, for a total value of $163,350.00. Following the completion of the sale, the insider owned 22,500 shares in the company, valued at approximately $245,025. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 25,376 shares of Viant Technology stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.10, for a total value of $281,673.60. Following the completion of the sale, the chief financial officer owned 459,155 shares in the company, valued at approximately $5,096,620.50. This represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 200,874 shares of company stock worth $2,335,021. 29.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DSP. B. Riley Financial upped their price objective on shares of Viant Technology from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of Viant Technology from a "hold (c)" rating to a "sell (d+)" rating in a research note on Wednesday, May 13th. DA Davidson upped their price target on shares of Viant Technology from $16.00 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen cut Viant Technology from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $18.00.

Viant Technology Trading Up 2.8%

DSP stock opened at $10.70 on Friday. The firm's 50-day moving average price is $11.89 and its two-hundred day moving average price is $11.30. Viant Technology Inc. has a 12-month low of $8.11 and a 12-month high of $15.18. The stock has a market capitalization of $701.21 million, a price-to-earnings ratio of 29.72 and a beta of 1.03.

Viant Technology (NASDAQ:DSP - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. Equities analysts predict that Viant Technology Inc. will post -0.18 EPS for the current year.

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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