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

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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James Financial raised Viant Technology from an "outperform" rating to a "strong-buy" rating and set a $20.00 price target for the company in a report on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Viant Technology in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $21.25.

Viant Technology Price Performance

The stock has a 50-day simple moving average of $13.60 and a 200-day simple moving average of $15.41. The stock has a market cap of $880.36 million, a PE ratio of 127.92 and a beta of 1.12.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 13,265 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $13.08, for a total value 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 $5,706,293.88. This represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max O. Valdes sold 4,838 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $14.29, for a total value 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. The trade was a 18.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,125 shares of company stock valued at $430,048. Company insiders own 28.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. grew its holdings in Viant Technology by 83.3% in the 4th 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. AlphaQuest LLC grew its holdings in Viant Technology by 287.6% in the 2nd quarter. AlphaQuest LLC now owns 4,640 shares of the company's stock worth $61,000 after buying an additional 3,443 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Viant Technology in the 2nd quarter worth approximately $75,000. Envestnet Asset Management Inc. bought a new position in Viant Technology in the 2nd quarter worth approximately $166,000. Finally, Wells Fargo & Company MN boosted its stake in Viant Technology by 76.3% during the 4th 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 in the last quarter. 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.