Viant Technology Inc. (NASDAQ:DSP) Sees Large Decline in Short Interest

Viant Technology Inc. (NASDAQ:DSP) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 492,200 shares, a drop of 21.9% from the October 15th total of 630,200 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 83,400 shares, the short-interest ratio is presently 5.9 days.

Insider Buying and Selling

In other news, CFO Larry Madden sold 3,084 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $11.05, for a total value of $34,078.20. Following the transaction, the chief financial officer now owns 538,434 shares of the company’s stock, valued at $5,949,695.70. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 10,419 shares of company stock worth $116,647. Insiders own 28.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DSP. Acadian Asset Management LLC increased its position in Viant Technology by 379.0% during the first quarter. Acadian Asset Management LLC now owns 18,749 shares of the company’s stock worth $198,000 after buying an additional 14,835 shares during the period. Heron Bay Capital Management purchased a new stake in Viant Technology in the 1st quarter valued at $243,000. Quadrature Capital Ltd boosted its stake in Viant Technology by 39.0% during the 1st quarter. Quadrature Capital Ltd now owns 73,684 shares of the company’s stock worth $783,000 after purchasing an additional 20,668 shares during the period. Kennedy Capital Management LLC grew its position in Viant Technology by 3.8% during the 1st quarter. Kennedy Capital Management LLC now owns 42,970 shares of the company’s stock worth $458,000 after purchasing an additional 1,562 shares during the last quarter. Finally, Summit Global Investments purchased a new position in shares of Viant Technology during the second quarter worth about $111,000. Hedge funds and other institutional investors own 11.38% of the company’s stock.

Viant Technology Stock Performance

Shares of Viant Technology stock traded up $0.81 during trading hours on Friday, reaching $16.21. 274,826 shares of the company were exchanged, compared to its average volume of 131,116. The firm has a market cap of $1.02 billion, a PE ratio of 270.21 and a beta of 0.72. Viant Technology has a 1 year low of $5.36 and a 1 year high of $16.97. The stock’s fifty day moving average is $11.67 and its 200 day moving average is $10.60.

Analyst Ratings Changes

Several research analysts have weighed in on DSP shares. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $18.00 in a research note on Wednesday. JMP Securities increased their price objective on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Craig Hallum boosted their target price on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC upped their price target on Viant Technology from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Canaccord Genuity Group raised Viant Technology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $18.00 in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $15.86.

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.