Viant Technology (NASDAQ:DSP) Shares Up 7.1% – Should You Buy?

Shares of Viant Technology Inc. (NASDAQ:DSP) rose 7.1% during mid-day trading on Wednesday. The stock traded as high as $12.34 and last traded at $12.78. Approximately 199,638 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 280,267 shares. The stock had previously closed at $11.93.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DSP shares. UBS Group boosted their price target on shares of Viant Technology from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Citigroup reaffirmed a “market outperform” rating on shares of Viant Technology in a research report on Tuesday, August 11th. DA Davidson raised shares of Viant Technology to a “strong-buy” rating in a research report on Monday. Citizens Jmp increased their target price on shares of Viant Technology from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Viant Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.33.

Viant Technology Stock Performance

The stock has a 50 day moving average of $12.56 and a 200-day moving average of $11.84. The firm has a market capitalization of $842.37 million, a P/E ratio of 40.91 and a beta of 1.11.

Insider Buying and Selling at Viant Technology

In other news, CFO Larry Madden sold 27,451 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $13.06, for a total value of $358,510.06. Following the sale, the chief financial officer owned 398,371 shares of the company’s stock, valued at $5,202,725.26. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,909 shares of company stock valued at $778,642 in the last three months. 29.43% of the stock is owned by company insiders.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in shares of Viant Technology by 202.3% during the second quarter. Versant Capital Management Inc now owns 2,772 shares of the company’s stock valued at $35,000 after purchasing an additional 1,855 shares during the period. Squarepoint Ops LLC increased its position in shares of Viant Technology by 8.8% during the second quarter. Squarepoint Ops LLC now owns 39,568 shares of the company’s stock valued at $501,000 after buying an additional 3,207 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Viant Technology during the 1st quarter worth approximately $97,000. Quantinno Capital Management LP raised its holdings in Viant Technology by 81.6% in the first quarter. Quantinno Capital Management LP now owns 62,409 shares of the company’s stock worth $699,000 after purchasing an additional 28,052 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Viant Technology in the 1st quarter worth about $320,000. 11.38% of the stock is currently owned by institutional investors.

Viant Technology Company Profile

Viant Technology Inc is an advertising technology company that provides a cloud-based demand-side platform (DSP) for planning, buying, and measuring digital advertising campaigns. Its platform, Adelphic, enables advertisers and agencies to purchase programmatic media across connected television, streaming video, mobile, desktop, audio, and other digital channels.

The company’s technology is designed to support people-based and omnichannel advertising, allowing customers to use first-party data, audience segmentation, identity solutions, automated media buying, and campaign measurement tools.