Viant Technology (NASDAQ:DSP) CFO Larry Madden Sells 7,297 Shares

Key Points

• CFO Larry Madden sold 7,297 shares on April 6 at an average price of $11.31 for proceeds of $82,529.07 under a pre-arranged Rule 10b5-1 plan, reducing his position by 1.22% to 593,027 shares (valued at about $6.71M); he also sold additional shares in January and March.
• Shares of Viant Technology (NASDAQ:DSP) traded down 3.2% to $10.94 with a market cap of roughly $693M and a P/E of 34.19, and analysts maintain a consensus Buy rating with an average price target of $17.71.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) CFO Larry Madden sold 7,297 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $11.31, for a total transaction of $82,529.07. Following the sale, the chief financial officer owned 593,027 shares of the company's stock, valued at approximately $6,707,135.37. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, March 13th, Larry Madden sold 1,658 shares of Viant Technology stock. The stock was sold at an average price of $13.03, for a total transaction of $21,603.74.
• On Thursday, January 22nd, Larry Madden sold 4,224 shares of Viant Technology stock. The stock was sold at an average price of $13.09, for a total transaction of $55,292.16.

Viant Technology Trading Down 3.2%

Shares of NASDAQ:DSP traded down $0.36 during mid-day trading on Tuesday, reaching $10.94. The company had a trading volume of 85,050 shares, compared to its average volume of 209,958. The firm has a market cap of $693.05 million, a price-to-earnings ratio of 34.19 and a beta of 0.94. The company's 50-day moving average price is $10.73 and its 200-day moving average price is $10.46. Viant Technology Inc. has a one year low of $8.11 and a one year high of $16.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Viant Technology in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Viant Technology from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. B. Riley Financial reiterated a "buy" rating and issued a $17.00 price objective (up from $16.50) on shares of Viant Technology in a research note on Thursday, March 12th. Loop Capital set a $14.50 price objective on shares of Viant Technology in a research note on Tuesday, March 10th. Finally, Freedom Capital upgraded shares of Viant Technology to a "strong-buy" rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Viant Technology currently has a consensus rating of "Buy" and an average price target of $17.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DSP. Royce & Associates LP grew its stake in Viant Technology by 72.3% in the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company's stock valued at $10,981,000 after buying an additional 382,664 shares in the last quarter. Topline Capital Management LLC purchased a new position in shares of Viant Technology during the 3rd quarter valued at $2,150,000. Invenomic Capital Management LP purchased a new position in shares of Viant Technology during the 4th quarter valued at $2,748,000. Millennium Management LLC grew its position 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 valued at $5,177,000 after purchasing an additional 205,160 shares in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new position in shares of Viant Technology during the 2nd quarter valued at $1,323,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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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