Viant Technology (NASDAQ:DSP) Stock Price Down 4.7% Following Insider Selling

Shares of Viant Technology Inc. (NASDAQ:DSP) were down 4.7% on Tuesday following insider selling activity. The company traded as low as $13.68 and last traded at $13.50. Approximately 60,104 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 234,588 shares. The stock had previously closed at $14.17.

Specifically, Director Max O. Valdes sold 4,838 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $14.29, for a total transaction of $69,135.02. Following the transaction, the director now owns 21,591 shares of the company’s stock, valued at approximately $308,535.39. This represents a 18.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Max O. Valdes sold 5,062 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $13.87, for a total value of $70,209.94. Following the transaction, the director now directly owns 26,429 shares in the company, valued at approximately $366,570.23. This represents a 16.07% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several equities analysts recently weighed in on DSP shares. Needham & Company LLC reiterated a “buy” rating and set a $21.00 target price on shares of Viant Technology in a research report on Wednesday, April 2nd. Rosenblatt Securities restated a “buy” rating and issued a $20.00 target price on shares of Viant Technology in a research report on Wednesday, May 7th. Finally, Raymond James cut their price target on shares of Viant Technology from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Viant Technology currently has an average rating of “Buy” and a consensus price target of $21.00.

Viant Technology Stock Performance

The company has a market cap of $855.29 million, a price-to-earnings ratio of 227.87 and a beta of 1.14. The company’s 50 day moving average price is $13.82 and its 200 day moving average price is $17.00.

Institutional Investors Weigh In On Viant Technology

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Viant Technology in the fourth quarter valued at approximately $142,000. New York State Teachers Retirement System bought a new position in Viant Technology in the fourth quarter valued at about $27,000. Bank of New York Mellon Corp increased its position in Viant Technology by 11.8% in the fourth quarter. Bank of New York Mellon Corp now owns 36,480 shares of the company’s stock worth $693,000 after purchasing an additional 3,864 shares during the period. Raymond James Financial Inc. bought a new stake in Viant Technology during the 4th quarter worth about $3,022,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Viant Technology during the 4th quarter valued at about $382,000. Institutional investors 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.