Viant Technology (NASDAQ:DSP) Shares Down 5% - Time to Sell?

Key Points

• Viant fell 5% to about $11.03 on Monday with volume of 83,219 shares, well below the average session volume of 210,674.
• Analysts are broadly bullish—MarketBeat shows a consensus “Buy” rating with an average target price of $17.79, and several firms recently raised ratings or price targets.
• Insiders sold 143,179 shares in the past 90 days (about $1.59M), and insiders collectively own 29.4% of the stock, while institutions own roughly 11.4%.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) fell 5% on Monday . The stock traded as low as $11.01 and last traded at $11.0250. 83,219 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 210,674 shares. The stock had previously closed at $11.61.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DSP. DA Davidson raised their price objective on Viant Technology from $15.50 to $16.00 and gave the company a "buy" rating in a research note on Thursday. Freedom Capital raised Viant Technology to a "strong-buy" rating in a research note on Tuesday, March 10th. Wall Street Zen raised Viant Technology from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Thursday. Finally, Loop Capital set a $14.50 price objective on Viant Technology in a research note on Tuesday, March 10th. 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 company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $17.79.

Viant Technology Stock Performance

The business has a fifty day simple moving average of $10.57 and a 200 day simple moving average of $10.59. The stock has a market cap of $707.02 million, a price-to-earnings ratio of 34.88 and a beta of 0.94.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, COO Christopher Vanderhook sold 2,920 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $11.42, for a total transaction of $33,346.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Capital V. Llc sold 8,760 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $11.42, for a total value of $100,039.20. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 143,179 shares of company stock worth $1,586,238. 29.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Viant Technology

Large investors have recently bought and sold shares of the stock. Topline Capital Management LLC acquired a new stake in Viant Technology during the 3rd quarter valued at $2,150,000. Tudor Investment Corp ET AL boosted its holdings in shares of Viant Technology by 39.7% during the third quarter. Tudor Investment Corp ET AL now owns 191,636 shares of the company's stock worth $1,654,000 after purchasing an additional 54,507 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Viant Technology by 474.3% during the third quarter. Dynamic Technology Lab Private Ltd now owns 70,533 shares of the company's stock worth $609,000 after purchasing an additional 58,251 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Viant Technology during the fourth quarter worth $64,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Viant Technology by 88.6% during the third quarter. GSA Capital Partners LLP now owns 112,741 shares of the company's stock worth $973,000 after purchasing an additional 52,974 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company's stock.

Viant Technology Company Profile

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.

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