Viant Technology (NASDAQ:DSP) Price Target Lowered to $19.00 at Raymond James Financial

Key Points

• Analysts at Raymond James Financial have lowered their price target for Viant Technology from $20.00 to $19.00, maintaining a "strong-buy" rating.
• Despite the price drop, the stock's potential upside is estimated at 58.33% based on the previous close.
• Insider trading includes significant share sales by both Director Max O. Valdes and CEO Timothy Vanderhook, indicating a decrease in their positions with notable transactions reported.

Viant Technology (NASDAQ:DSP - Free Report) had its price target cut by Raymond James Financial from $20.00 to $19.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Separately, Rosenblatt Securities restated a "buy" rating and issued a $20.00 target price on shares of Viant Technology in a report on Wednesday, May 7th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Viant Technology currently has an average rating of "Buy" and a consensus target price of $20.38.

Viant Technology Trading Down 0.3%

Shares of NASDAQ DSP traded down $0.03 during trading on Tuesday, reaching $9.50. The company had a trading volume of 368,657 shares, compared to its average volume of 304,446. Viant Technology has a twelve month low of $9.22 and a twelve month high of $26.33. The stock has a 50-day moving average price of $13.16 and a two-hundred day moving average price of $14.89. The stock has a market capitalization of $594.42 million, a PE ratio of 73.08 and a beta of 1.12.

Insider Buying and Selling

In related news, CFO Larry Madden sold 13,265 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $13.08, for a total transaction of $173,506.20. Following the completion of the sale, the chief financial officer owned 436,261 shares of the company's stock, valued at approximately $5,706,293.88. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Max O. Valdes sold 4,838 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $14.29, for a total transaction of $69,135.02. Following the completion of the sale, the director directly owned 21,591 shares of the company's stock, valued at $308,535.39. This trade represents a 18.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,125 shares of company stock valued at $430,048. 29.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Viant Technology

Several large investors have recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Viant Technology by 63.2% during the 4th quarter. LPL Financial LLC now owns 21,834 shares of the company's stock valued at $415,000 after buying an additional 8,453 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Viant Technology by 353.7% during the fourth quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company's stock valued at $8,323,000 after purchasing an additional 341,684 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Viant Technology by 76.3% during the fourth quarter. Wells Fargo & Company MN now owns 8,846 shares of the company's stock valued at $168,000 after purchasing an additional 3,829 shares during the period. Federated Hermes Inc. increased its holdings in shares of Viant Technology by 0.8% during the fourth quarter. Federated Hermes Inc. now owns 58,492 shares of the company's stock valued at $1,111,000 after purchasing an additional 465 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Viant Technology by 29.2% during the fourth quarter. Renaissance Technologies LLC now owns 471,200 shares of the company's stock worth $8,948,000 after acquiring an additional 106,400 shares during the period. 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.