Viant Technology (NASDAQ:DSP) Sets New 12-Month Low - Time to Sell?

Key Points

• Viant Technology's stock reached a new 52-week low at $9.51, reflecting a 6.1% decline in value, with a current market capitalization of $583.06 million.
• Several analysts downgraded their price targets for Viant, with Raymond James cutting it from $20.00 to $19.00, while JMP Securities reduced it from $24.00 to $18.00, maintaining a consensus "Buy" rating.
• Insider trading activity includes the CFO selling 13,265 shares, reflecting a 2.95% decrease in ownership, amidst significant changes in institutional investor positions.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.51 and last traded at $9.63, with a volume of 127945 shares. The stock had previously closed at $9.92.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial decreased their price objective on Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating for the company in a report on Tuesday, August 12th. Canaccord Genuity Group dropped their price objective on Viant Technology from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. JMP Securities lowered their price target on Viant Technology from $24.00 to $18.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Finally, Rosenblatt Securities restated a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $20.38.

Viant Technology Stock Performance

The firm has a market capitalization of $592.54 million, a P/E ratio of 72.81 and a beta of 1.12. The company has a 50-day moving average price of $13.16 and a 200-day moving average price of $14.79.

Insiders Place Their Bets

In other Viant Technology news, Director Max O. Valdes sold 5,062 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $13.87, for a total transaction of $70,209.94. Following the transaction, the director owned 26,429 shares of the company's stock, valued at $366,570.23. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Larry Madden sold 13,265 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $13.08, for a total value of $173,506.20. Following the completion of the transaction, the chief financial officer directly owned 436,261 shares in the company, valued at $5,706,293.88. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,125 shares of company stock valued at $430,048 in the last 90 days. 28.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viant Technology

A number of large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC lifted its stake in shares of Viant Technology by 63.2% in the 4th quarter. LPL Financial LLC now owns 21,834 shares of the company's stock valued at $415,000 after acquiring an additional 8,453 shares during the last quarter. Wells Fargo & Company MN raised its position in Viant Technology by 76.3% during the 4th quarter. Wells Fargo & Company MN now owns 8,846 shares of the company's stock worth $168,000 after purchasing an additional 3,829 shares during the last quarter. Raymond James Financial Inc. bought a new position in Viant Technology during the 4th quarter worth $3,022,000. Summit Investment Advisors Inc. raised its position in Viant Technology by 83.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock worth $30,000 after purchasing an additional 728 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Viant Technology during the 4th quarter worth $425,000. Institutional investors and hedge funds own 11.38% of the company's stock.

Viant Technology Company 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.