Cubist Systematic Strategies LLC Buys 40,567 Shares of Viant Technology Inc. $DSP

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Viant Technology Inc. by 77.8%, acquiring an additional 40,567 shares to own about 0.15% of the company, valued at approximately $1.15 million.
• Company insiders, including the CEO and CFO, sold shares recently, with the CEO selling 8,960 shares and the CFO selling 13,265 shares, both at an average price of $13.08, indicating a 2% decrease in their respective holdings.
• Viant Technology's stock has been rated as a "buy" by multiple analysts, with an average target price of $19.78, despite recent price adjustments from various firms.

Cubist Systematic Strategies LLC lifted its position in Viant Technology Inc. (NASDAQ:DSP - Free Report) by 77.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 92,686 shares of the company's stock after purchasing an additional 40,567 shares during the quarter. Cubist Systematic Strategies LLC owned 0.15% of Viant Technology worth $1,150,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in shares of Viant Technology during the first quarter worth $4,023,000. Harbor Capital Advisors Inc. bought a new position in shares of Viant Technology during the first quarter worth $3,867,000. Norwood Investment Partners LP acquired a new position in Viant Technology in the first quarter valued at about $2,881,000. Millennium Management LLC grew its position in shares of Viant Technology by 784.8% in the 4th quarter. Millennium Management LLC now owns 170,987 shares of the company's stock valued at $3,247,000 after purchasing an additional 151,662 shares during the period. Finally, Northern Trust Corp lifted its position in Viant Technology by 11.2% in the 4th quarter. Northern Trust Corp now owns 158,512 shares of the company's stock valued at $3,010,000 after acquiring an additional 15,996 shares in the last quarter. Institutional investors own 11.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DSP. Canaccord Genuity Group reduced their target price on shares of Viant Technology from $24.00 to $22.00 and set a "buy" rating for the company in a report 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. JMP Securities cut their target price on shares of 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. Raymond James Financial cut their price objective 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. Finally, DA Davidson initiated coverage on Viant Technology in a report on Friday, August 29th. They set a "buy" rating and a $15.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $19.78.

Viant Technology Price Performance

Shares of NASDAQ DSP traded down $0.25 during mid-day trading on Friday, hitting $9.73. 238,938 shares of the stock traded hands, compared to its average volume of 241,493. The company has a market cap of $612.51 million, a PE ratio of 74.85 and a beta of 1.10. Viant Technology Inc. has a twelve month low of $9.07 and a twelve month high of $26.33. The firm has a 50 day simple moving average of $11.84 and a two-hundred day simple moving average of $13.07.

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.