Viant Technology (NASDAQ:DSP) Hits New 52-Week Low - Here's What Happened

Key Points

• Viant Technology's stock hit a new 52-week low at $8.71 during trading, closing slightly higher at $8.74 with a trading volume of 232,771 shares.
• Despite the decline in stock price, analysts maintain a consensus “Buy” rating for Viant Technology, with an average price target of $19.78.
• Recent insider activity includes CFO Larry Madden and COO Christopher Vanderhook selling shares at an average price of $9.73, reflecting a slight decrease in their ownership positions.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.71 and last traded at $8.74, with a volume of 232771 shares trading hands. The stock had previously closed at $9.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research note 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 on the stock in a research report on Tuesday, August 12th. Wall Street Zen upgraded Viant Technology from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Raymond James Financial reduced their target price on Viant Technology from $20.00 to $19.00 and set a "strong-buy" rating on the stock in a report on Tuesday, August 12th. Finally, DA Davidson began coverage on Viant Technology in a report on Friday, August 29th. They set a "buy" rating and a $15.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $19.78.

Viant Technology Trading Down 3.3%

The company has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $12.66. The firm has a market cap of $550.18 million, a P/E ratio of 67.24 and a beta of 1.10.

Insider Buying and Selling at Viant Technology

In related news, CFO Larry Madden sold 13,006 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $9.73, for a total value of $126,548.38. Following the sale, the chief financial officer directly owned 423,255 shares of the company's stock, valued at approximately $4,118,271.15. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Vanderhook sold 8,782 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $9.73, for a total transaction of $85,448.86. Following the completion of the sale, the chief operating officer directly owned 356,284 shares in the company, valued at $3,466,643.32. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 29.40% of the company's stock.

Institutional Investors Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its position in Viant Technology by 2.4% during the second quarter. Rhumbline Advisers now owns 45,042 shares of the company's stock worth $596,000 after acquiring an additional 1,056 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Viant Technology by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company's stock valued at $359,000 after purchasing an additional 1,109 shares during the period. Huntleigh Advisors Inc. raised its holdings in shares of Viant Technology by 5.8% in the 2nd quarter. Huntleigh Advisors Inc. now owns 23,708 shares of the company's stock valued at $314,000 after purchasing an additional 1,290 shares during the period. Martingale Asset Management L P raised its holdings in shares of Viant Technology by 4.9% in the 1st quarter. Martingale Asset Management L P now owns 28,353 shares of the company's stock valued at $352,000 after purchasing an additional 1,337 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Viant Technology by 7.0% in the 1st quarter. Mackenzie Financial Corp now owns 29,347 shares of the company's stock valued at $364,000 after purchasing an additional 1,921 shares during the period. Institutional investors 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.

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