Royce & Associates LP Cuts Stock Holdings in Viant Technology Inc. (NASDAQ:DSP)

Key Points

• Royce & Associates LP has reduced its stake in Viant Technology by 10.5% to approximately 647,963 shares after selling 76,137 shares in the first quarter.
• Insider sales included CFO Larry Madden selling 13,265 shares and CEO Timothy Vanderhook selling 8,960 shares, each reflecting a decrease in their ownership.
• Viant Technology's stock has recently seen a 3.3% increase, with a current market cap of $913.52 million and an average price target from analysts of $21.00.

Royce & Associates LP lessened its stake in Viant Technology Inc. (NASDAQ:DSP - Free Report) by 10.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 647,963 shares of the company's stock after selling 76,137 shares during the quarter. Royce & Associates LP owned approximately 1.03% of Viant Technology worth $8,041,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DSP. Renaissance Technologies LLC increased its position in Viant Technology by 29.2% during the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company's stock valued at $8,948,000 after acquiring an additional 106,400 shares during the last quarter. JPMorgan Chase & Co. increased its position in Viant Technology by 353.7% during the fourth quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company's stock valued at $8,323,000 after acquiring an additional 341,684 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Viant Technology during the first quarter valued at $3,867,000. Arrowstreet Capital Limited Partnership increased its position in Viant Technology by 189.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company's stock valued at $4,961,000 after acquiring an additional 171,047 shares during the last quarter. Finally, Norwood Investment Partners LP bought a new position in Viant Technology during the first quarter valued at $2,881,000. Hedge funds and other institutional investors own 11.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DSP shares. Raymond James Financial cut their price objective on shares of Viant Technology from $27.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and issued a $20.00 price target on shares of Viant Technology in a report on Wednesday, May 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $21.00 price target on shares of Viant Technology in a report on Wednesday, April 2nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $21.00.

Viant Technology Stock Performance

Viant Technology stock traded up $0.19 during midday trading on Monday, hitting $14.79. 179,168 shares of the company's stock were exchanged, compared to its average volume of 318,337. Viant Technology Inc. has a 12 month low of $8.70 and a 12 month high of $26.33. The firm has a 50-day moving average of $13.61 and a two-hundred day moving average of $15.54. The company has a market cap of $925.41 million, a PE ratio of 134.47 and a beta of 1.12.

Insider Activity

In related news, CFO Larry Madden sold 13,265 shares of Viant Technology stock in a transaction that occurred 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 in the company, valued at $5,706,293.88. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy Vanderhook sold 8,960 shares of Viant Technology stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $13.08, for a total transaction 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. This trade represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,125 shares of company stock worth $430,048. Corporate insiders own 28.80% of the company's stock.

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.