Whetstone Capital Advisors LLC Makes New Investment in Viant Technology Inc. $DSP

Key Points

• Whetstone Capital Advisors LLC acquired 118,631 shares of Viant Technology, marking a new position valued at approximately $1.47 million, which constitutes about 0.7% of their portfolio.
• Several institutional investors, including Lord Abbett & CO. LLC and Harbor Capital Advisors Inc., have also initiated new positions in Viant Technology, indicating growing interest in the company.
• Analysts are currently optimistic, with a consensus rating of "Buy" and an average price target of $20.38, despite the stock recently being down by 1.4%.

Whetstone Capital Advisors LLC acquired a new stake in Viant Technology Inc. (NASDAQ:DSP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 118,631 shares of the company's stock, valued at approximately $1,472,000. Viant Technology makes up approximately 0.7% of Whetstone Capital Advisors LLC's holdings, making the stock its 23rd largest position. Whetstone Capital Advisors LLC owned about 0.19% of Viant Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DSP. Lord Abbett & CO. LLC purchased a new position in Viant Technology in the first quarter valued at $4,023,000. Harbor Capital Advisors Inc. purchased a new position in Viant Technology in the first quarter valued at $3,867,000. Norwood Investment Partners LP acquired a new stake in shares of Viant Technology in the first quarter valued at about $2,881,000. Raymond James Financial Inc. acquired a new stake in shares of Viant Technology in the fourth quarter valued at about $3,022,000. Finally, Millennium Management LLC grew its position in shares of Viant Technology by 784.8% in the fourth 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. Hedge funds and other institutional investors own 11.38% of the company's stock.

Viant Technology Price Performance

DSP traded up $0.02 on Tuesday, reaching $9.89. 69,076 shares of the company's stock were exchanged, compared to its average volume of 323,277. The stock has a market cap of $622.46 million, a PE ratio of 76.08 and a beta of 1.12. Viant Technology Inc. has a twelve month low of $9.07 and a twelve month high of $26.33. The stock's fifty day moving average price is $12.72 and its 200-day moving average price is $14.23.

Insider Buying and Selling

In other Viant Technology news, Director Max O. Valdes sold 5,062 shares of Viant Technology 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 transaction, the director directly owned 26,429 shares of the company's stock, valued at $366,570.23. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Larry Madden sold 13,265 shares of Viant Technology stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $13.08, for a total transaction of $173,506.20. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,125 shares of company stock worth $430,048. 29.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on DSP. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a research report on Tuesday, August 12th. JMP Securities dropped their target price on shares of Viant Technology from $24.00 to $18.00 and set a "market outperform" rating on the stock in a research report 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 on the stock in a research report on Tuesday, August 12th. Finally, Canaccord Genuity Group dropped their target price on shares of Viant Technology from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Viant Technology presently has an average rating of "Buy" and an average price target of $20.38.

Viant Technology Company 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.