Larry Madden Sells 27,451 Shares of Viant Technology (NASDAQ:DSP) Stock

Key Points

• CFO Larry Madden sold 27,451 Viant Technology shares at an average price of $13.06, generating $358,510; the Rule 10b5-1 transaction reduced his holdings by 6.45% to 398,371 shares.
• Viant shares recently traded at $12.98, with a market capitalization of about $850.6 million. The company’s latest quarter missed analysts’ EPS estimate, despite revenue of $88.54 million exceeding expectations.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $18.33; several firms recently raised their targets to between $17 and $19.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) CFO Larry Madden sold 27,451 shares of the firm's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the completion of the sale, the chief financial officer directly owned 398,371 shares of the company's stock, valued at approximately $5,202,725.26. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• On Monday, June 15th, Larry Madden sold 25,376 shares of Viant Technology stock. The stock was sold at an average price of $11.10, for a total transaction of $281,673.60.
• On Monday, June 8th, Larry Madden sold 14,670 shares of Viant Technology stock. The stock was sold at an average price of $12.10, for a total transaction of $177,507.00.
• On Friday, June 5th, Larry Madden sold 18,663 shares of Viant Technology stock. The shares were sold at an average price of $12.24, for a total transaction of $228,435.12.

Viant Technology Price Performance

Shares of DSP stock traded up $0.50 during midday trading on Thursday, reaching $12.98. 324,381 shares of the company traded hands, compared to its average volume of 248,843. The firm's 50 day simple moving average is $12.04 and its two-hundred day simple moving average is $11.33. The firm has a market cap of $850.58 million, a PE ratio of 41.87 and a beta of 1.08. Viant Technology Inc. has a 1-year low of $8.11 and a 1-year high of $14.80.

Viant Technology (NASDAQ:DSP - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. Viant Technology had a net margin of 2.24% and a return on equity of 4.38%. As a group, research analysts anticipate that Viant Technology Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DSP. Russell Investments Group Ltd. boosted its position in Viant Technology by 86.9% during the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock worth $32,000 after purchasing an additional 1,228 shares during the period. CWM LLC raised its position in Viant Technology by 431.0% in the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock valued at $34,000 after purchasing an additional 2,267 shares during the period. Versant Capital Management Inc lifted its stake in shares of Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company's stock worth $35,000 after purchasing an additional 1,855 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Viant Technology by 620.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock worth $35,000 after purchasing an additional 2,483 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Viant Technology in the fourth quarter worth about $64,000. 11.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on DSP. DA Davidson upped their target price on Viant Technology from $16.50 to $17.50 and gave the company a "buy" rating in a research note on Tuesday. Citigroup reissued a "market outperform" rating on shares of Viant Technology in a research note on Tuesday. Citizens Jmp upped their price objective on shares of Viant Technology from $16.00 to $17.00 and gave the company a "market outperform" rating in a research note on Tuesday. UBS Group increased their price objective on shares of Viant Technology from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Weiss Ratings raised shares of Viant Technology from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $18.33.

About Viant Technology

Viant Technology Inc Nasdaq: DSP is a software-as-a-service (SaaS) advertising technology company that delivers data-driven solutions to marketers and agencies. Its core offering, Adelphic, is a programmatic demand-side platform (DSP) that empowers clients to plan, execute and optimize digital ad campaigns across desktop, mobile, connected TV and other emerging channels.

Complementing its DSP, Viant offers PeopleCloud, a people-based data management platform (DMP) that aggregates and normalizes first- and third-party audience data.

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