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

Key Points

• Viant Technology shares have reached a new 52-week low, trading at $9.18, indicating possible volatility and investor concern regarding the stock.
• Despite the recent drop in stock price, analysts remain optimistic, with a consensus rating of "Buy" and an average target price of $20.38.
• Recent insider trading activity includes significant sales from a director and CFO, which could signal cautious sentiment among company executives.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $9.18 and last traded at $9.42, with a volume of 474175 shares traded. The stock had previously closed at $9.73.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Canaccord Genuity Group dropped their price target on Viant Technology from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a research report on Tuesday, August 12th. JMP Securities reduced 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, Raymond James Financial reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $20.38.

Viant Technology Stock Performance

The business has a fifty day simple moving average of $12.79 and a 200 day simple moving average of $14.33. The company has a market cap of $640.83 million, a P/E ratio of 78.32 and a beta of 1.12.

Insiders Place Their Bets

In related news, CEO Timothy Vanderhook sold 8,960 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $13.08, for a total value of $117,196.80. Following the sale, the chief executive officer owned 365,076 shares of the company's stock, valued at approximately $4,775,194.08. This trade represents a 2.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Max O. Valdes sold 5,062 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $13.87, for a total value of $70,209.94. Following the transaction, the director owned 26,429 shares of the company's stock, valued at approximately $366,570.23. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,125 shares of company stock valued at $430,048 in the last quarter. Insiders own 28.80% of the company's stock.

Institutional Trading of Viant Technology

Large investors have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in shares of Viant Technology by 2.8% in the 1st quarter. Rhumbline Advisers now owns 43,986 shares of the company's stock worth $546,000 after acquiring an additional 1,214 shares during the period. Bank of America Corp DE increased its stake in Viant Technology by 13.8% during the 4th quarter. Bank of America Corp DE now owns 33,272 shares of the company's stock valued at $632,000 after buying an additional 4,030 shares during the period. Deutsche Bank AG increased its stake in Viant Technology by 30.8% during the 4th quarter. Deutsche Bank AG now owns 17,021 shares of the company's stock valued at $323,000 after buying an additional 4,012 shares during the period. BNP Paribas Financial Markets acquired a new position in Viant Technology during the 4th quarter valued at about $484,000. Finally, Northern Trust Corp increased its stake in Viant Technology by 11.2% during the 4th quarter. Northern Trust Corp now owns 158,512 shares of the company's stock valued at $3,010,000 after buying an additional 15,996 shares during the period. Institutional investors and hedge funds own 11.38% of the company's stock.

About Viant Technology

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.