Viant Technology Inc. (NASDAQ:DSP) Short Interest Up 7.1% in December

Viant Technology Inc. (NASDAQ:DSP) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 465,200 shares, a growth of 7.1% from the November 30th total of 434,400 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily volume of 173,600 shares, the short-interest ratio is presently 2.7 days.

Insider Transactions at Viant Technology

In other news, CFO Larry Madden sold 2,768 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $11.23, for a total value of $31,084.64. Following the transaction, the chief financial officer now directly owns 529,848 shares in the company, valued at approximately $5,950,193.04. This trade represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Max O. Valdes sold 7,500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $20.51, for a total transaction of $153,825.00. Following the sale, the director now directly owns 63,452 shares of the company’s stock, valued at approximately $1,301,400.52. This represents a 10.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,750 shares of company stock valued at $1,907,441. Insiders own 28.80% of the company’s stock.

Institutional Trading of Viant Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DSP. Federated Hermes Inc. grew its holdings in Viant Technology by 5,286.9% during the 2nd quarter. Federated Hermes Inc. now owns 67,767 shares of the company’s stock worth $669,000 after acquiring an additional 66,509 shares during the period. ClariVest Asset Management LLC bought a new position in shares of Viant Technology during the second quarter worth $1,387,000. Acadian Asset Management LLC increased its stake in Viant Technology by 659.4% during the 2nd quarter. Acadian Asset Management LLC now owns 142,384 shares of the company’s stock worth $1,403,000 after purchasing an additional 123,635 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Viant Technology in the second quarter valued at approximately $84,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Viant Technology during the second quarter worth $47,000. 11.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DSP has been the subject of a number of research reports. JMP Securities raised their target price on shares of Viant Technology from $12.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Craig Hallum increased their price target on shares of Viant Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Canaccord Genuity Group upped their price objective on shares of Viant Technology from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Scotiabank initiated coverage on Viant Technology in a report on Thursday, December 5th. They set a “sector outperform” rating and a $27.00 price target on the stock. Finally, Needham & Company LLC increased their target price on Viant Technology from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $17.75.

Viant Technology Stock Performance

Shares of DSP stock traded down $0.08 during mid-day trading on Thursday, reaching $18.91. The company’s stock had a trading volume of 51,707 shares, compared to its average volume of 140,742. The company has a market cap of $1.19 billion, a P/E ratio of 315.22 and a beta of 1.00. Viant Technology has a 1-year low of $6.39 and a 1-year high of $21.74. The firm’s 50-day moving average is $17.14 and its two-hundred day moving average is $12.93.

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.