Viant Technology (NASDAQ:DSP) Trading 4.3% Higher – Here’s Why

Viant Technology Inc. (NASDAQ:DSP) was up 4.3% during trading on Friday . The stock traded as high as $16.15 and last traded at $16.06. Approximately 170,834 shares traded hands during trading, an increase of 37% from the average daily volume of 124,751 shares. The stock had previously closed at $15.40.

Analysts Set New Price Targets

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

Viant Technology Stock Performance

The business has a fifty day simple moving average of $11.67 and a 200 day simple moving average of $10.60. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 270.17 and a beta of 0.72.

Insider Activity at Viant Technology

In related news, CFO Larry Madden sold 3,084 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $11.05, for a total transaction of $34,078.20. Following the sale, the chief financial officer now owns 538,434 shares in the company, valued at approximately $5,949,695.70. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 10,419 shares of company stock valued at $116,647 over the last quarter. Insiders own 28.80% of the company’s stock.

Hedge Funds Weigh In On Viant Technology

Several institutional investors have recently added to or reduced their stakes in DSP. Geode Capital Management LLC grew its holdings in Viant Technology by 1.9% in the third quarter. Geode Capital Management LLC now owns 365,339 shares of the company’s stock valued at $4,045,000 after purchasing an additional 6,803 shares during the period. Barclays PLC boosted its holdings in shares of Viant Technology by 74.7% in the 3rd quarter. Barclays PLC now owns 39,255 shares of the company’s stock valued at $435,000 after purchasing an additional 16,784 shares during the last quarter. State Street Corp grew its stake in shares of Viant Technology by 0.6% during the 3rd quarter. State Street Corp now owns 283,365 shares of the company’s stock valued at $3,137,000 after buying an additional 1,722 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Viant Technology during the 3rd quarter worth $254,000. Finally, FMR LLC raised its position in shares of Viant Technology by 77.9% in the 3rd quarter. FMR LLC now owns 7,134 shares of the company’s stock worth $79,000 after buying an additional 3,123 shares during the period. 11.38% of the stock is currently owned by institutional investors and hedge funds.

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.