Viant Technology Inc. (NASDAQ:DSP) Short Interest Update

Viant Technology Inc. (NASDAQ:DSP) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 932,620 shares, a decline of 16.7% from the March 31st total of 1,119,593 shares. Based on an average daily volume of 181,353 shares, the days-to-cover ratio is presently 5.1 days. Approximately 2.1% of the shares of the company are short sold.

Viant Technology Price Performance

NASDAQ DSP traded up $0.52 on Friday, hitting $11.38. The company had a trading volume of 148,432 shares, compared to its average volume of 185,034. The company’s fifty day moving average price is $10.75 and its 200-day moving average price is $10.69. The company has a market capitalization of $720.92 million, a PE ratio of 35.56 and a beta of 1.00. Viant Technology has a 12-month low of $8.11 and a 12-month high of $16.25.

Insider Buying and Selling

In related news, major shareholder Capital V. Llc sold 8,389 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $10.74, for a total value of $90,097.86. Following the sale, the insider owned 37,500 shares in the company, valued at $402,750. This represents a 18.28% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Larry Madden sold 12,782 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $10.16, for a total transaction of $129,865.12. Following the transaction, the chief financial officer directly owned 553,699 shares of the company’s stock, valued at $5,625,581.84. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 178,283 shares of company stock valued at $1,883,485 over the last quarter. 29.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DSP. Hsbc Holdings PLC lifted its stake in Viant Technology by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock valued at $332,000 after buying an additional 2,122 shares in the last quarter. nVerses Capital LLC purchased a new stake in Viant Technology during the 4th quarter worth approximately $153,000. Tudor Investment Corp ET AL raised its holdings in shares of Viant Technology by 6.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 203,159 shares of the company’s stock valued at $2,446,000 after acquiring an additional 11,523 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Viant Technology in the fourth quarter valued at approximately $252,000. Finally, Millennium Management LLC lifted its position in shares of Viant Technology by 91.2% in the fourth quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock valued at $5,177,000 after acquiring an additional 205,160 shares in the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DSP shares. DA Davidson boosted their target price on shares of Viant Technology from $15.50 to $16.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Freedom Capital raised Viant Technology to a “strong-buy” rating in a research report on Tuesday, March 10th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a report on Thursday, April 16th. Wall Street Zen upgraded Viant Technology from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Finally, Loop Capital set a $14.50 target price on Viant Technology in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Viant Technology currently has an average rating of “Buy” and an average target price of $17.79.

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.