Renaissance Technologies LLC Has $8.95 Million Position in Viant Technology Inc. (NASDAQ:DSP)

Renaissance Technologies LLC lifted its stake in shares of Viant Technology Inc. (NASDAQ:DSP - Free Report) by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 471,200 shares of the company's stock after acquiring an additional 106,400 shares during the period. Renaissance Technologies LLC owned 0.75% of Viant Technology worth $8,948,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in shares of Viant Technology during the fourth quarter worth about $27,000. FMR LLC boosted its position in Viant Technology by 77.9% during the third quarter. FMR LLC now owns 7,134 shares of the company's stock worth $79,000 after acquiring an additional 3,123 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Viant Technology in the 4th quarter worth approximately $80,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Viant Technology in the 4th quarter valued at $88,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Viant Technology during the fourth quarter worth $142,000. Hedge funds and other institutional investors own 11.38% of the company's stock.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the transaction, the chief financial officer now owns 344,340 shares of the company's stock, valued at $7,961,140.80. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 28.80% of the stock is owned by company insiders.

Viant Technology Trading Up 10.0 %

Viant Technology stock traded up $1.20 during midday trading on Wednesday, reaching $13.22. 44,974 shares of the stock traded hands, compared to its average volume of 225,891. Viant Technology Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $26.33. The firm has a market cap of $833.84 million, a price-to-earnings ratio of 220.37 and a beta of 1.21. The firm has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $16.70.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price objective on shares of Viant Technology in a research note on Wednesday, April 2nd. Raymond James cut their price target on Viant Technology from $27.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, JMP Securities boosted their target price on shares of Viant Technology from $17.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Monday, January 27th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $21.14.

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.