Viant Technology (NASDAQ:DSP) Stock Price Down 3.6% – Here’s Why

Viant Technology Inc. (NASDAQ:DSP)’s share price fell 3.6% during mid-day trading on Friday . The company traded as low as $18.31 and last traded at $18.34. 70,645 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 129,868 shares. The stock had previously closed at $19.02.

Analyst Upgrades and Downgrades

DSP has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded Viant Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Needham & Company LLC upped their price objective on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group raised shares of Viant Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $18.00 in a research report on Wednesday, November 13th. Craig Hallum boosted their price target on Viant Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, JMP Securities upped 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, November 13th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.86.

Viant Technology Stock Performance

The stock has a market capitalization of $1.18 billion, a PE ratio of 315.80 and a beta of 0.72. The company’s 50-day moving average price is $12.32 and its 200 day moving average price is $10.86.

Insider Transactions at Viant Technology

In related news, CFO Larry Madden sold 2,768 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $11.23, for a total transaction of $31,084.64. Following the completion of the sale, the chief financial officer now owns 529,848 shares in the company, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 100,166 shares of company stock worth $1,521,311 over the last three months. 28.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viant Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSP. Allspring Global Investments Holdings LLC bought a new stake in shares of Viant Technology in the 2nd quarter valued at about $47,000. FMR LLC lifted its position in shares of Viant Technology by 77.9% in the third quarter. FMR LLC now owns 7,134 shares of the company’s stock valued at $79,000 after acquiring an additional 3,123 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Viant Technology during the 2nd quarter valued at about $84,000. Victory Capital Management Inc. acquired a new position in shares of Viant Technology during the 3rd quarter valued at about $122,000. Finally, Summit Global Investments purchased a new stake in Viant Technology in the second quarter valued at $111,000. 11.38% of the stock is currently owned by hedge funds and other institutional investors.

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.