Insider Selling: Viant Technology (NASDAQ:DSP) CFO Sells 17,042 Shares

Key Points

• CFO Larry Madden sold 17,042 Viant Technology shares at an average price of $12.52, generating $213,365.84. The Rule 10b5-1 transaction reduced his holdings by 4.55% to 357,313 shares, and follows several other sales this year.
• Viant shares rose 18.6% to $11.88 in Friday trading, with volume significantly above average. The company has a market capitalization of approximately $789.7 million and a 52-week trading range of $8.11 to $14.80.
• Analysts remain broadly optimistic, with a consensus “Buy” rating and an average price target of $18.33. Recent targets range as high as $24, while institutional investors and hedge funds own 11.38% of the stock.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) CFO Larry Madden sold 17,042 shares of the firm's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $12.52, for a total value of $213,365.84. Following the transaction, the chief financial officer owned 357,313 shares in the company, valued at approximately $4,473,558.76. This represents a 4.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Larry Madden also recently made the following trade(s):

• On Friday, September 18th, Larry Madden sold 14,602 shares of Viant Technology stock. The shares were sold at an average price of $12.10, for a total value of $176,684.20.
• On Tuesday, August 11th, Larry Madden sold 27,451 shares of Viant Technology stock. The stock was sold at an average price of $13.06, for a total transaction of $358,510.06.
• On Thursday, July 23rd, Larry Madden sold 2,814 shares of Viant Technology stock. The stock was sold at an average price of $10.69, for a total transaction of $30,081.66.
• On Wednesday, July 8th, Larry Madden sold 11,273 shares of Viant Technology stock. The shares were sold at an average price of $12.69, for a total transaction of $143,054.37.
• On Tuesday, July 7th, Larry Madden sold 9,149 shares of Viant Technology stock. The shares were sold at an average price of $12.86, for a total transaction of $117,656.14.
• On Monday, July 6th, Larry Madden sold 10,097 shares of Viant Technology stock. The shares were sold at an average price of $12.78, for a total transaction of $129,039.66.

Viant Technology Trading Up 18.6%

Shares of DSP traded up $1.86 during mid-day trading on Friday, hitting $11.88. The company's stock had a trading volume of 2,594,112 shares, compared to its average volume of 290,629. The company's 50-day moving average is $12.44 and its 200-day moving average is $11.73. Viant Technology Inc. has a 52-week low of $8.11 and a 52-week high of $14.80. The firm has a market capitalization of $789.66 million, a price-to-earnings ratio of 38.32 and a beta of 1.13.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently made changes to their positions in DSP. Versant Capital Management Inc grew its stake in Viant Technology by 202.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock worth $35,000 after buying an additional 1,855 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Viant Technology by 8.8% in the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company's stock worth $501,000 after acquiring an additional 3,207 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Viant Technology in the first quarter worth about $97,000. Quantinno Capital Management LP grew its stake in shares of Viant Technology by 81.6% during the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company's stock worth $699,000 after acquiring an additional 28,052 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Viant Technology during the first quarter worth about $320,000. 11.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DSP shares. DA Davidson lifted their price target on Viant Technology from $16.50 to $17.50 and gave the company a "buy" rating in a report on Tuesday, August 11th. Citigroup reaffirmed a "market outperform" rating on shares of Viant Technology in a research report on Tuesday, August 11th. Rosenblatt Securities lifted their target price on Viant Technology from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. UBS Group boosted their target price on shares of Viant Technology from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Viant Technology from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Viant Technology presently has a consensus rating of "Buy" and an average target price of $18.33.

About Viant Technology

Viant Technology Inc is an advertising technology company that provides a demand-side platform (DSP) for planning, buying and measuring digital advertising campaigns. Its platform enables advertisers and agencies to purchase programmatic advertising across channels, including connected television, mobile, desktop, audio and other digital media.

The company's platform, Adelphic, is designed to support omnichannel campaign management, audience targeting, media planning, identity resolution and performance measurement.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.