Viant Technology (NASDAQ:DSP) CFO Larry Madden Sells 14,670 Shares

Key Points

• Viant Technology CFO Larry Madden sold 14,670 shares on June 8 at an average price of $12.10, for total proceeds of $177,507. The filing noted the trade was made under a pre-arranged Rule 10b5-1 plan.
• Following the sale, Madden still owned 484,531 shares valued at about $5.86 million, though the transaction reduced his position by 2.94%. This was part of a series of recent insider sales over the past several months.
• Viant Technology shares traded near $12.09, and the company recently reported quarterly earnings of -$0.03 per share, missing estimates even as revenue topped forecasts. Wall Street currently has a Buy consensus on the stock with an average target price of $18.00.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) CFO Larry Madden sold 14,670 shares of Viant Technology stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.10, for a total transaction of $177,507.00. Following the transaction, the chief financial officer owned 484,531 shares in the company, valued at $5,862,825.10. This represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 5th, Larry Madden sold 18,663 shares of Viant Technology stock. The stock was sold at an average price of $12.24, for a total transaction of $228,435.12.
• On Monday, May 11th, Larry Madden sold 17,297 shares of Viant Technology stock. The stock was sold at an average price of $11.42, for a total transaction of $197,531.74.
• On Friday, May 8th, Larry Madden sold 18,538 shares of Viant Technology stock. The stock was sold at an average price of $11.85, for a total transaction of $219,675.30.
• On Thursday, April 23rd, Larry Madden sold 12,782 shares of Viant Technology stock. The stock was sold at an average price of $10.16, for a total transaction of $129,865.12.
• On Wednesday, April 22nd, Larry Madden sold 13,263 shares of Viant Technology stock. The shares were sold at an average price of $10.74, for a total transaction of $142,444.62.
• On Tuesday, April 21st, Larry Madden sold 13,283 shares of Viant Technology stock. The shares were sold at an average price of $10.91, for a total transaction of $144,917.53.
• On Monday, April 6th, Larry Madden sold 7,297 shares of Viant Technology stock. The shares were sold at an average price of $11.31, for a total transaction of $82,529.07.
• On Friday, March 13th, Larry Madden sold 1,658 shares of Viant Technology stock. The shares were sold at an average price of $13.03, for a total transaction of $21,603.74.

Viant Technology Price Performance

Shares of DSP stock traded down $0.02 on Monday, hitting $12.09. 204,199 shares of the stock traded hands, compared to its average volume of 306,778. The firm has a market cap of $792.26 million, a price-to-earnings ratio of 33.58 and a beta of 1.04. Viant Technology Inc. has a 52 week low of $8.11 and a 52 week high of $15.18. The firm has a 50 day simple moving average of $11.18 and a two-hundred day simple moving average of $11.16.

Viant Technology (NASDAQ:DSP - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $88.54 million for the quarter, compared to the consensus estimate of $50.13 million. Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. Sell-side analysts forecast that Viant Technology Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently made changes to their positions in DSP. Royce & Associates LP boosted its stake in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company's stock worth $10,981,000 after purchasing an additional 382,664 shares during the period. Topline Capital Management LLC purchased a new position in shares of Viant Technology during the 3rd quarter worth about $2,150,000. Invenomic Capital Management LP purchased a new position in shares of Viant Technology during the 4th quarter worth about $2,748,000. Millennium Management LLC boosted its stake in shares of Viant Technology by 91.2% during the 4th quarter. Millennium Management LLC now owns 429,993 shares of the company's stock worth $5,177,000 after purchasing an additional 205,160 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of Viant Technology by 16.4% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company's stock worth $15,088,000 after purchasing an additional 190,248 shares during the period. 11.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DSP. Freedom Capital upgraded shares of Viant Technology to a "strong-buy" rating in a research report on Tuesday, March 10th. DA Davidson raised their price objective on shares of Viant Technology from $16.00 to $16.50 and gave the company a "buy" rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Viant Technology from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Viant Technology in a report on Thursday, April 16th. Finally, Loop Capital set a $14.50 price target on shares of Viant Technology in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Viant Technology presently has a consensus rating of "Buy" and an average target price of $18.00.

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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