Viant Technology (NASDAQ:DSP) Shares Gap Up – What’s Next?

Viant Technology Inc. (NASDAQ:DSP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $12.27, but opened at $13.44. Viant Technology shares last traded at $12.95, with a volume of 19,119 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DSP. JMP Securities increased their target price on shares of Viant Technology from $17.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, January 27th. Raymond James reduced their price objective on shares of Viant Technology from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 target price on shares of Viant Technology in a research note on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $22.43.

Viant Technology Price Performance

The firm has a market cap of $808.61 million, a P/E ratio of 213.12 and a beta of 1.21. The stock’s 50-day simple moving average is $17.65 and its two-hundred day simple moving average is $16.61.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 14,284 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $23.12, for a total transaction of $330,246.08. Following the completion of the transaction, the chief financial officer now owns 344,340 shares in the company, valued at $7,961,140.80. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.80% of the stock is currently owned by insiders.

Institutional Trading of Viant Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Viant Technology by 353.7% in the 4th quarter. JPMorgan Chase & Co. now owns 438,280 shares of the company’s stock worth $8,323,000 after buying an additional 341,684 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Viant Technology by 189.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 261,221 shares of the company’s stock worth $4,961,000 after acquiring an additional 171,047 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Viant Technology during the fourth quarter valued at approximately $3,022,000. Millennium Management LLC grew its stake in Viant Technology by 784.8% in the fourth quarter. Millennium Management LLC now owns 170,987 shares of the company’s stock worth $3,247,000 after purchasing an additional 151,662 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Viant Technology by 182.1% during the 4th quarter. Marshall Wace LLP now owns 219,060 shares of the company’s stock worth $4,160,000 after purchasing an additional 141,403 shares during the period. Hedge funds and other institutional investors own 11.38% of the company’s stock.

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.