Royce & Associates LP Reduces Position 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 cut its holdings in Viant Technology Inc. (NASDAQ:DSP - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 647,963 shares of the company's stock after selling 76,137 shares during the quarter. Royce & Associates LP owned 1.03% of Viant Technology worth $8,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its position in Viant Technology by 83.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock valued at $30,000 after acquiring an additional 728 shares in the last quarter. Quantbot Technologies LP bought a new position in Viant Technology in the 4th quarter valued at approximately $80,000. Wells Fargo & Company MN lifted its position in Viant Technology by 76.3% in the 4th quarter. Wells Fargo & Company MN now owns 8,846 shares of the company's stock valued at $168,000 after acquiring an additional 3,829 shares in the last quarter. Walleye Capital LLC bought a new position in Viant Technology in the 4th quarter valued at approximately $193,000. Finally, Two Sigma Investments LP bought a new position in Viant Technology in the 4th quarter valued at approximately $197,000. 11.38% of the stock is owned by institutional investors.

Viant Technology Trading Down 0.1%

Viant Technology stock traded down $0.01 during mid-day trading on Wednesday, hitting $14.03. The stock had a trading volume of 34,068 shares, compared to its average volume of 315,479. The firm has a market capitalization of $877.86 million, a P/E ratio of 127.56 and a beta of 1.12. The firm's 50 day moving average is $13.59 and its 200 day moving average is $15.52. Viant Technology Inc. has a one year low of $8.70 and a one year high of $26.33.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, Director Max O. Valdes sold 5,062 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.87, for a total transaction of $70,209.94. Following the completion of the transaction, the director owned 26,429 shares of the company's stock, valued at $366,570.23. This represents a 16.07% decrease in their position. The transaction 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 the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $13.08, for a total transaction of $173,506.20. Following the completion of the transaction, the chief financial officer directly owned 436,261 shares of the company's stock, valued at approximately $5,706,293.88. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,125 shares of company stock valued at $430,048 in the last 90 days. Insiders own 28.80% of the company's stock.

Wall Street Analyst Weigh In

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

About Viant Technology

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.