Viant Technology (NASDAQ:DSP) Shares Gap Up - Here's What Happened

Key Points

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Viant Technology Inc. (NASDAQ:DSP - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $13.53, but opened at $14.98. Viant Technology shares last traded at $14.20, with a volume of 133,541 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Wednesday, May 7th. Raymond James Financial raised shares of Viant Technology from an "outperform" rating to a "strong-buy" rating and set a $20.00 price objective for the company in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $21.25.

Viant Technology Stock Down 6.0%

The company's 50 day moving average price is $13.60 and its two-hundred day moving average price is $15.46. The stock has a market cap of $852.83 million, a P/E ratio of 123.92 and a beta of 1.12.

Insider Activity

In related news, CEO Timothy Vanderhook sold 8,960 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $13.08, for a total value of $117,196.80. Following the completion of the transaction, the chief executive officer owned 365,076 shares of the company's stock, valued at $4,775,194.08. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Max O. Valdes sold 4,838 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $14.29, for a total transaction of $69,135.02. Following the completion of the transaction, 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. Over the last quarter, insiders sold 32,125 shares of company stock valued at $430,048. Corporate insiders own 29.40% of the company's stock.

Hedge Funds Weigh In On Viant Technology

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. raised its stake in Viant Technology by 0.8% in the fourth quarter. Federated Hermes Inc. now owns 58,492 shares of the company's stock worth $1,111,000 after buying an additional 465 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in Viant Technology by 83.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,602 shares of the company's stock worth $30,000 after buying an additional 728 shares in the last quarter. Rhumbline Advisers raised its stake in Viant Technology by 2.8% in the first quarter. Rhumbline Advisers now owns 43,986 shares of the company's stock worth $546,000 after buying an additional 1,214 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in Viant Technology by 5.8% in the second quarter. Huntleigh Advisors Inc. now owns 23,708 shares of the company's stock worth $314,000 after buying an additional 1,290 shares in the last quarter. Finally, Martingale Asset Management L P raised its stake in Viant Technology by 4.9% in the first quarter. Martingale Asset Management L P now owns 28,353 shares of the company's stock worth $352,000 after buying an additional 1,337 shares in the last quarter. Institutional investors 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.