Punch & Associates Investment Management Inc. Raises Holdings in Viant Technology Inc. $DSP

Key Points

• Punch & Associates Investment Management Inc. increased its holdings in Viant Technology Inc. by 37.0%, owning approximately 1.57% of the company with a value of $12,283,000.
• CEO Timothy Vanderhook and CFO Larry Madden both sold shares of Viant Technology on June 13th, reducing their ownership by 2.40% and 2.95% respectively.
• Analysts have given Viant Technology an average rating of "Buy" with a consensus price target of $19.78, down from previous targets of up to $24.00.

Punch & Associates Investment Management Inc. lifted its holdings in shares of Viant Technology Inc. (NASDAQ:DSP - Free Report) by 37.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 989,771 shares of the company's stock after buying an additional 267,326 shares during the period. Punch & Associates Investment Management Inc. owned about 1.57% of Viant Technology worth $12,283,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DSP. Lord Abbett & CO. LLC purchased a new position in shares of Viant Technology during the 1st quarter worth approximately $4,023,000. Harbor Capital Advisors Inc. purchased a new position in shares of Viant Technology during the 1st quarter worth approximately $3,867,000. Norwood Investment Partners LP purchased a new position in shares of Viant Technology during the 1st quarter worth approximately $2,881,000. Millennium Management LLC raised its stake in shares of Viant Technology by 784.8% during the 4th 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. Finally, Whetstone Capital Advisors LLC purchased a new position in shares of Viant Technology during the 1st quarter worth approximately $1,472,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy Vanderhook sold 8,960 shares of Viant Technology stock in a transaction on Friday, June 13th. The stock was sold at an average price of $13.08, for a total value of $117,196.80. Following the completion of the sale, the chief executive officer owned 365,076 shares of the company's stock, valued at $4,775,194.08. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Larry Madden sold 13,265 shares of Viant Technology stock in a transaction on Friday, June 13th. The shares were sold at an average price of $13.08, for a total value of $173,506.20. Following the completion of the sale, the chief financial officer directly owned 436,261 shares of the company's stock, valued at approximately $5,706,293.88. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. 29.40% of the stock is owned by insiders.

Viant Technology Stock Performance

Viant Technology stock opened at $10.30 on Friday. Viant Technology Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $26.33. The company has a market capitalization of $648.39 million, a price-to-earnings ratio of 79.24 and a beta of 1.10. The stock has a fifty day moving average of $12.19 and a two-hundred day moving average of $13.50.

Analysts Set New Price Targets

DSP has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Tuesday, August 12th. JMP Securities dropped their price objective on Viant Technology from $24.00 to $18.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Canaccord Genuity Group dropped their price objective on Viant Technology from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Raymond James Financial dropped 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 report on Tuesday, August 12th. Finally, Wall Street Zen upgraded shares of Viant Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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.

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