Viant Technology (NASDAQ:DSP) Stock Price Down 4.7% Following Insider Selling

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) fell 4.7% on Tuesday following insider selling activity. The stock traded as low as $13.68 and last traded at $13.50. 60,104 shares changed hands during trading, a decline of 74% from the average session volume of 234,588 shares. The stock had previously closed at $14.17.

Specifically, Director Max O. Valdes sold 4,838 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $14.29, for a total value of $69,135.02. Following the completion of the sale, the director now directly owns 21,591 shares of the company's stock, valued at $308,535.39. This represents a 18.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Max O. Valdes sold 5,062 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.87, for a total transaction of $70,209.94. Following the completion of the sale, the director now directly owns 26,429 shares of the company's stock, valued at approximately $366,570.23. This trade represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James reduced their price target on shares of Viant Technology from $27.00 to $18.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Viant Technology in a report on Wednesday, May 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price objective on shares of Viant Technology in a report on Wednesday, April 2nd. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $21.00.

Viant Technology Trading Up 0.1%

The company has a market capitalization of $841.53 million, a P/E ratio of 224.20 and a beta of 1.14. The business's fifty day moving average price is $13.86 and its 200 day moving average price is $16.96.

Institutional Investors Weigh In On Viant Technology

A number of hedge funds have recently made changes to their positions in DSP. JPMorgan Chase & Co. increased its position in shares of Viant Technology by 353.7% during the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company's stock worth $8,323,000 after purchasing an additional 341,684 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Viant Technology during the 1st quarter worth about $4,023,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Viant Technology during the 1st quarter worth about $3,867,000. Punch & Associates Investment Management Inc. increased its position in shares of Viant Technology by 37.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 989,771 shares of the company's stock worth $12,283,000 after purchasing an additional 267,326 shares in the last quarter. Finally, Norwood Investment Partners LP acquired a new stake in shares of Viant Technology during the 1st quarter worth about $2,881,000. 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.