Insider Selling: Viant Technology (NASDAQ:DSP) Director Sells $40,530.42 in Stock

Viant Technology Inc. (NASDAQ:DSP) Director Max Valdes sold 3,386 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.97, for a total value of $40,530.42. Following the completion of the transaction, the director directly owned 29,449 shares of the company’s stock, valued at approximately $352,504.53. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Viant Technology Price Performance

NASDAQ DSP traded down $0.30 during mid-day trading on Wednesday, hitting $11.58. The stock had a trading volume of 309,905 shares, compared to its average volume of 271,801. The firm’s 50 day moving average is $11.22 and its 200 day moving average is $11.19. Viant Technology Inc. has a twelve month low of $8.11 and a twelve month high of $15.18. The stock has a market capitalization of $758.84 million, a price-to-earnings ratio of 32.17 and a beta of 1.04.

Viant Technology (NASDAQ:DSP) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). Viant Technology had a net margin of 2.51% and a return on equity of 2.40%. The firm had revenue of $88.54 million during the quarter, compared to analyst estimates of $50.13 million. As a group, equities research analysts expect that Viant Technology Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Viant Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in shares of Viant Technology by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 45,042 shares of the company’s stock worth $596,000 after acquiring an additional 1,056 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Viant Technology by 4.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,121 shares of the company’s stock worth $359,000 after acquiring an additional 1,109 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Viant Technology by 86.9% in the 4th quarter. Russell Investments Group Ltd. now owns 2,641 shares of the company’s stock worth $32,000 after acquiring an additional 1,228 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Viant Technology by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 27,950 shares of the company’s stock worth $332,000 after acquiring an additional 2,122 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Viant Technology by 431.0% in the 4th quarter. CWM LLC now owns 2,793 shares of the company’s stock worth $34,000 after acquiring an additional 2,267 shares during the last quarter. 11.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DSP. Weiss Ratings downgraded Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Viant Technology in a research note on Thursday, April 16th. B. Riley Financial increased their price objective on Viant Technology from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Freedom Capital raised Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Viant Technology has a consensus rating of “Buy” and a consensus price target 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.