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

Viant Technology Inc. (NASDAQ:DSP)’s share price traded down 4.7% on Thursday after an insider sold shares in the company. The company traded as low as $10.95 and last traded at $11.0380. 61,417 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 226,745 shares. The stock had previously closed at $11.58.

Specifically, Director Max O. Valdes sold 3,386 shares of Viant Technology stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $11.97, for a total transaction of $40,530.42. Following the completion of the sale, the director directly owned 29,449 shares of the company’s stock, valued at $352,504.53. The trade was a 10.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Max O. Valdes sold 3,300 shares of Viant Technology stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.10, for a total value of $39,930.00. Following the sale, the director directly owned 32,835 shares of the company’s stock, valued at approximately $397,303.50. This trade represents a 9.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, CFO Larry Madden sold 14,670 shares of Viant Technology stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.10, for a total transaction of $177,507.00. Following the completion of the sale, the chief financial officer directly owned 484,531 shares of the company’s stock, valued at $5,862,825.10. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Freedom Capital raised Viant Technology to a “strong-buy” rating in a research note on Tuesday, March 10th. DA Davidson lifted their price objective on Viant Technology from $16.00 to $16.50 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Viant Technology in a research note on Thursday, April 16th. Weiss Ratings cut Viant Technology from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut Viant Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.00.

Viant Technology Price Performance

The stock has a market capitalization of $720.90 million, a price-to-earnings ratio of 30.61 and a beta of 1.04. The business has a 50 day simple moving average of $11.22 and a 200-day simple moving average of $11.19.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Royal Bank of Canada grew its stake in Viant Technology by 246.4% in the first quarter. Royal Bank of Canada now owns 29,213 shares of the company’s stock valued at $363,000 after acquiring an additional 20,779 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Viant Technology by 303.6% in the first quarter. AQR Capital Management LLC now owns 47,295 shares of the company’s stock valued at $587,000 after purchasing an additional 35,578 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Viant Technology by 77.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,249 shares of the company’s stock valued at $1,691,000 after purchasing an additional 59,323 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Viant Technology in the second quarter valued at about $166,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Viant Technology by 6.4% in the second quarter. Geode Capital Management LLC now owns 380,598 shares of the company’s stock valued at $5,036,000 after purchasing an additional 22,857 shares in the last quarter. 11.38% of the stock is owned by institutional investors and hedge funds.

Viant Technology Company Profile

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.