Insider Selling: Viant Technology (NASDAQ:DSP) Major Shareholder Sells $163,350.00 in Stock

Viant Technology Inc. (NASDAQ:DSP) major shareholder Capital Llc sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $10.89, for a total value of $163,350.00. Following the completion of the transaction, the insider owned 22,500 shares of the company’s stock, valued at $245,025. The trade was a 40.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Viant Technology Trading Up 1.7%

DSP opened at $11.19 on Friday. The stock has a 50-day moving average price of $11.04 and a 200-day moving average price of $10.94. Viant Technology Inc. has a 12-month low of $8.11 and a 12-month high of $15.18. The stock has a market capitalization of $733.33 million, a P/E ratio of 31.08 and a beta of 1.00.

Viant Technology (NASDAQ:DSP) last released its earnings results on Monday, May 11th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The company had revenue of $88.54 million during the quarter, compared to the consensus estimate of $50.13 million. On average, equities research analysts predict that Viant Technology Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. grew its holdings in shares of Viant Technology by 16.4% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,347,163 shares of the company’s stock worth $15,088,000 after acquiring an additional 190,248 shares during the period. Royce & Associates LP grew its holdings in shares of Viant Technology by 72.3% during the 4th quarter. Royce & Associates LP now owns 912,043 shares of the company’s stock worth $10,981,000 after acquiring an additional 382,664 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Viant Technology by 2.6% during the 4th quarter. Renaissance Technologies LLC now owns 493,800 shares of the company’s stock worth $5,945,000 after acquiring an additional 12,683 shares during the period. Millennium Management LLC grew its holdings in shares of Viant Technology by 91.2% during the 4th quarter. Millennium Management LLC now owns 429,993 shares of the company’s stock worth $5,177,000 after acquiring an additional 205,160 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Viant Technology by 6.4% during the 2nd quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock worth $5,036,000 after acquiring an additional 22,857 shares during the period. Institutional investors own 11.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. DA Davidson boosted their target price on Viant Technology from $16.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research note on Thursday, April 16th. Freedom Capital raised Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Wall Street Zen lowered Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, B. Riley Financial boosted their target price on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.00.

About Viant Technology

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.