Viant Technology (NASDAQ:DSP) Reaches New 52-Week High – What’s Next?

Viant Technology Inc. (NASDAQ:DSP)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $22.67 and last traded at $22.56, with a volume of 192049 shares changing hands. The stock had previously closed at $21.90.

Analysts Set New Price Targets

Several research analysts recently issued reports on DSP shares. Craig Hallum upped their price target on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC increased their price target on shares of Viant Technology from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Scotiabank assumed coverage on shares of Viant Technology in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $27.00 price objective for the company. Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $18.00 in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group lifted their price objective on Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology has an average rating of “Buy” and a consensus price target of $20.29.

Viant Technology Stock Performance

The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 384.73 and a beta of 1.00. The business’s 50-day moving average is $19.72 and its two-hundred day moving average is $14.55.

Insider Activity

In related news, CFO Larry Madden sold 67,243 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $15.19, for a total transaction of $1,021,421.17. Following the completion of the transaction, the chief financial officer now directly owns 461,107 shares in the company, valued at approximately $7,004,215.33. This trade represents a 12.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Max O. Valdes sold 7,500 shares of Viant Technology 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 sale, the director now owns 63,452 shares in the company, valued at $1,301,400.52. This trade represents a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,815 shares of company stock valued at $2,105,138 in the last quarter. Company insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Viant Technology by 102.2% in the third quarter. JPMorgan Chase & Co. now owns 96,596 shares of the company’s stock valued at $1,069,000 after purchasing an additional 48,826 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Viant Technology in the second quarter valued at $236,000. Martingale Asset Management L P acquired a new position in Viant Technology during the third quarter worth $254,000. Squarepoint Ops LLC raised its position in Viant Technology by 42.8% during the second quarter. Squarepoint Ops LLC now owns 73,008 shares of the company’s stock worth $721,000 after acquiring an additional 21,888 shares in the last quarter. Finally, Barclays PLC lifted its stake in Viant Technology by 74.7% in the third quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after acquiring an additional 16,784 shares during the last quarter. Institutional investors and hedge funds own 11.38% of the company’s stock.

Viant Technology Company Profile

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.