Viant Technology (NASDAQ:DSP) Major Shareholder Sells $90,097.86 in Stock

Key Points

• Major shareholder sale: Capital LLC sold 8,389 shares of Viant Technology on April 22 under a pre-arranged Rule 10b5-1 plan for $10.74 per share, totaling $90,097.86 and reducing its stake by 18.28% to 37,500 shares (worth ~$402,750).
• Stock snapshot: Viant shares traded near $10.78 (50- and 200-day moving averages ~ $10.61), with a market cap of about $683 million, a P/E of 33.69, and a 12-month range of $8.11–$16.25.
• Analyst sentiment: The consensus rating is "Buy" with a $17.79 average price target after multiple firms raised targets or reiterated buy ratings (including DA Davidson, Rosenblatt, and B. Riley).

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) major shareholder Capital Llc sold 8,389 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total transaction of $90,097.86. Following the sale, the insider owned 37,500 shares of the company's stock, valued at $402,750. This represents a 18.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Viant Technology Stock Performance

Shares of NASDAQ DSP traded up $0.10 during midday trading on Wednesday, reaching $10.78. 191,888 shares of the stock were exchanged, compared to its average volume of 191,493. The company has a 50 day simple moving average of $10.61 and a 200 day simple moving average of $10.62. The stock has a market capitalization of $682.91 million, a P/E ratio of 33.69 and a beta of 0.94. Viant Technology Inc. has a twelve month low of $8.11 and a twelve month high of $16.25.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Loop Capital set a $14.50 target price on shares of Viant Technology in a report on Tuesday, March 10th. DA Davidson lifted their target price on shares of Viant Technology from $15.50 to $16.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Wall Street Zen upgraded shares of Viant Technology from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a report on Thursday, April 16th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $17.00 target price (up from $16.50) on shares of Viant Technology in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $17.79.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently modified their holdings of the business. Punch & Associates Investment Management Inc. grew its stake in shares of Viant Technology by 3.8% in the third quarter. Punch & Associates Investment Management Inc. now owns 1,199,490 shares of the company's stock worth $10,352,000 after acquiring an additional 44,357 shares in the last quarter. Royce & Associates LP grew its stake in shares of Viant Technology by 72.3% in the fourth quarter. Royce & Associates LP now owns 912,043 shares of the company's stock worth $10,981,000 after acquiring an additional 382,664 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Viant Technology by 2.6% in the fourth quarter. Renaissance Technologies LLC now owns 493,800 shares of the company's stock worth $5,945,000 after acquiring an additional 12,683 shares in the last quarter. Millennium Management LLC grew its stake in shares of Viant Technology by 91.2% in the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company's stock worth $5,177,000 after acquiring an additional 205,160 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company's stock worth $5,036,000 after acquiring an additional 22,857 shares in the last quarter. Institutional investors and hedge funds own 11.38% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.