Viant Technology (NASDAQ:DSP) Shares Gap Up - Should You Buy?

Key Points

• Viant Technology (NASDAQ:DSP) gapped up, opening at $10.88 after a $10.17 close and last trading around $11.15 — roughly an 11.4% intraday increase on ~44,622 shares.
• Wall Street sentiment is positive with an average consensus rating of Buy and a consensus price target of $17.71, supported by recent upgrades and price targets as high as $20.00.
• Insider selling has been notable: the CFO and CEO recently sold shares and insiders disposed of 143,179 shares (~$1.59M) in the past three months, though insiders still hold 28.8% of the company.

Viant Technology Inc. (NASDAQ:DSP - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $10.17, but opened at $10.88. Viant Technology shares last traded at $11.15, with a volume of 44,622 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DSP shares. Wall Street Zen upgraded Viant Technology from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price target on shares of Viant Technology in a report on Thursday, March 12th. Freedom Capital upgraded shares of Viant Technology to a "strong-buy" rating in a report on Tuesday, March 10th. DA Davidson reaffirmed a "buy" rating and issued a $15.50 target price on shares of Viant Technology in a research report on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Viant Technology in a research note on Wednesday, January 21st. Two research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $17.71.

Viant Technology Stock Up 11.4%

The firm has a market capitalization of $717.44 million, a price-to-earnings ratio of 35.42 and a beta of 0.94. The business's 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $10.52.

Insider Buying and Selling at Viant Technology

In other Viant Technology news, CFO Larry Madden sold 7,297 shares of Viant Technology stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $11.31, for a total value of $82,529.07. Following the completion of the transaction, the chief financial officer directly owned 593,027 shares of the company's stock, valued at $6,707,135.37. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Timothy Vanderhook sold 5,000 shares of Viant Technology stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $11.94, for a total value of $59,700.00. Following the completion of the transaction, the chief executive officer directly owned 7,500 shares of the company's stock, valued at approximately $89,550. This represents a 40.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 143,179 shares of company stock valued at $1,586,238 in the last three months. 28.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently bought and sold shares of DSP. Farther Finance Advisors LLC acquired a new position in Viant Technology in the 3rd quarter valued at about $31,000. Russell Investments Group Ltd. grew its position in shares of Viant Technology by 86.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company's stock worth $32,000 after buying an additional 1,228 shares in the last quarter. CWM LLC grew its position in shares of Viant Technology by 431.0% during the fourth quarter. CWM LLC now owns 2,793 shares of the company's stock worth $34,000 after buying an additional 2,267 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Viant Technology by 620.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,883 shares of the company's stock worth $35,000 after buying an additional 2,483 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Viant Technology during the fourth quarter worth about $64,000. 11.38% of the stock is owned by institutional investors and hedge funds.

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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