Viant Technology (NASDAQ:DSP) Stock Price Down 4.4% – What’s Next?

Viant Technology Inc. (NASDAQ:DSP) shares traded down 4.4% on Wednesday . The stock traded as low as $20.06 and last traded at $20.44. 40,328 shares were traded during mid-day trading, a decline of 70% from the average session volume of 136,191 shares. The stock had previously closed at $21.37.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $18.00 in a report on Wednesday, November 13th. JMP Securities lifted their price target on Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Craig Hallum lifted their target price on Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their price target on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC increased their target price on shares of Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.75.

Viant Technology Stock Performance

The firm’s fifty day simple moving average is $14.55 and its 200 day simple moving average is $11.82. The stock has a market capitalization of $1.29 billion, a P/E ratio of 327.50 and a beta of 1.00.

Insider Activity at Viant Technology

In related news, Director Max O. Valdes sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $20.51, for a total transaction of $153,825.00. Following the completion of the transaction, the director now directly owns 63,452 shares in the company, valued at $1,301,400.52. This represents a 10.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the sale, the chief financial officer now owns 529,848 shares in the company, valued at $5,950,193.04. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,950 shares of company stock valued at $1,953,817 over the last three months. 28.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new position in Viant Technology in the second quarter valued at about $47,000. FMR LLC grew its holdings in Viant Technology by 77.9% during the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after acquiring an additional 3,123 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Viant Technology in the 2nd quarter valued at approximately $84,000. Summit Global Investments bought a new position in shares of Viant Technology during the second quarter valued at $111,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Viant Technology during the second quarter worth $112,000. 11.38% of the stock is currently owned by institutional investors.

About Viant Technology

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.